Which international trade agreement did the World Trade Organization replace?
The World Trade Organization (WTO) replaced the General Agreement on Tariffs and Trade (GATT).12
Established in 1947, the GATT was initially intended as a provisional arrangement until a specialized United Nations agency, the International Trade Organization (ITO), could be formed. When the ITO failed to materialize, the GATT evolved over nearly five decades into the primary framework for international trade liberalization.123
Following the conclusion of the Uruguay Round of multilateral negotiations, the WTO was formally established to provide a stronger, more permanent organization to monitor trade and resolve disputes. The WTO began operations on January 1, 1995, adopting the principles and agreements previously developed under the GATT.12