When was WTO (World Trade Organization) established?

Question

Question

This question was previously asked in

NTPC CBT-I (Held On: 12 Jan 2021 Shift 1)

Answer 1

The correct answer is 1995.

Key Points

WTO (World Trade Organization) was established in 1995.
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.
It acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries.
The WTO has over 160 members representing 98 per cent of world trade. Over 20 countries are seeking to join the WTO.
Ngozi Okonjo-Iweala is the seventh Director-General of the WTO. She took office on 1 March 2021, becoming the first woman and the first African to serve as Director-General.

Additional Information

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.
At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
Over the past 20 years, WTO members have agreed with major updates to the WTO rulebook to improve the flow of global trade. The WTO's membership has expanded to 164 members, representing over 98% of international trade. In 2015.
The WTO reached a significant milestone with the receipt of its 500th trade dispute for settlement.