Which among the following is the predecessor of the World Trade Organisation?

The correct answer is 'General Agreement on Tariffs and Trade (GATT)'

Key Points

• General Agreement on Tariffs and Trade (GATT):
  • The General Agreement on Tariffs and Trade (GATT) was established in 1947 as a multilateral agreement to regulate international trade and reduce barriers such as tariffs, quotas, and subsidies.
  • GATT served as a platform for trade negotiations and dispute resolution among member countries for nearly five decades.
  • In 1995, GATT was replaced by the World Trade Organisation (WTO), which expanded its scope to include trade in services, intellectual property, and dispute settlement mechanisms.
  • WTO builds upon the principles and agreements established under GATT but operates as a formal international organization with wider authority and structured governance.

Additional Information

• World Customs Organisation:
  • The World Customs Organisation (WCO) focuses on customs procedures and trade facilitation, but it is not a predecessor of the WTO.
  • While WCO deals with issues related to customs and enforcement, it does not regulate global trade agreements or dispute resolution like GATT or WTO.
• International Trade Centre:
  • The International Trade Centre (ITC) is a joint agency of the WTO and the United Nations, aimed at promoting trade development and supporting small and medium-sized enterprises.
  • ITC complements the WTO but was not its predecessor, as it has a different mandate focused on trade capacity building rather than global trade rules.
• International Trade Organisation:
  • The International Trade Organisation (ITO) was proposed in the 1940s as part of the Bretton Woods system, but it was never realized due to lack of ratification by member states.
  • Instead, GATT emerged as an interim solution and eventually evolved into the WTO, making ITO a concept rather than an operational predecessor.