​The Uruguay Round of Talks of GATT resulted in the establishment of:​

Correct option is B

The correct answer is (b) WTO.

The Uruguay Round of negotiations under the General Agreement on Tariffs and Trade (GATT) was the 8th and most comprehensive round of multilateral trade talks. It began in 1986 in Punta del Este, Uruguay, and concluded in 1994 in Marrakesh, Morocco. The result of these negotiations was the creation of the World Trade Organization (WTO), which officially came into existence on January 1, 1995.

The Uruguay Round covered several areas beyond traditional tariff reduction, including:

Trade in services (GATS)

Trade-Related Aspects of Intellectual Property Rights (TRIPS)

Dispute settlement mechanisms

Agricultural and textile trade reform

The WTO was formed to replace GATT and to institutionalize the trade rules and provide a permanent forum for negotiating and monitoring global trade agreements. The WTO also introduced a more effective dispute resolution system.

Information Booster : 

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. It provides a framework for negotiating trade agreements, a dispute resolution process, and a platform for enforcing participants’ adherence to WTO agreements.

Established: January 1, 1995

Headquarters: Geneva, Switzerland

Predecessor: GATT (General Agreement on Tariffs and Trade)

Membership: 164 members (as of 2024), covering over 98% of world trade.

 Historical Background
GATT (1947): A multilateral agreement aimed at reducing tariffs and other trade barriers post-World War II.

Uruguay Round (1986–1994): The 8th round of GATT negotiations, which led to the creation of the WTO.

Marrakesh Agreement (1994): Formal treaty establishing the WTO, signed in Morocco.

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