In which year was the World Trade Organization, which has promoted globalisation across nations, established?

Correct option is A

The correct answer is (A) 1995

Explanation:

• The World Trade Organization (WTO) was established on January 1, 1995, following the Marrakech Agreement in 1994.
• The WTO replaced the General Agreement on Tariffs and Trade (GATT), which was created after World War II to regulate international trade and promote global economic cooperation.
• The main objective of the WTO is to promote and regulate global trade, reduce trade barriers, and ensure that trade flows as smoothly, predictably, and freely as possible.

Information Booster:

• The WTO has 164 member countries (as of 2024) and handles the global rules of trade between nations, ensuring fair competition and settlement of disputes.
• The Doha Development Round and various trade negotiations have been a central part of WTO activities, aiming to benefit both developed and developing nations by addressing trade imbalances and improving market access.