UPSC Prelims 2001 Q99: Indian Economy – International Trade & WTO
The earlier name of WTO was
- (a) UNCTAD
- (b) GATT
- (c) UNIDO
- (d) OECD
Answer: (b) GATT
Explanation
Earlier name of the WTO
| Organisation | Fact |
|---|---|
| GATT (General Agreement on Tariffs and Trade) | 1947-1994; replaced by the WTO on 1 January 1995 after the Uruguay Round |
| UNCTAD | UN trade and development body, 1964, Geneva |
| UNIDO | UN industrial development body, Vienna |
| OECD | Group of rich economies, Paris, 1961 |
The WTO grew out of the GATT after the Uruguay Round (1986-1994). The Marrakesh Agreement of 1994 set up the WTO, which began work in 1995. GATT still exists as the WTO's agreement on trade in goods.
Answer: (b) GATT.
Why each option is right or wrong
- (a) Incorrect. UNCTAD is a separate UN body that still exists.
- (b) CORRECT. GATT was the forerunner of the WTO.
- (c) Incorrect. UNIDO is a UN agency for industrial development.
- (d) Incorrect. The OECD is a separate group of developed countries.
Key point
WTO: HQ Geneva; 164 members; India is a founder member; the Ministerial Conference is its top body.
Remember
WTO (1995) replaced GATT (1947).
Common mistakes
- Choosing UNCTAD, another trade body.
- Thinking the WTO is a UN specialised agency.
- Not knowing about the Uruguay Round.
Exam tip
GATT → Uruguay Round → Marrakesh 1994 → WTO 1995.
Sources
- World Trade Organization — The GATT years: from Havana to Marrakesh (wto.org)
- Marrakesh Agreement Establishing the World Trade Organization, 1994