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The World Trade Organization (WTO) replaced the General Agreement on Tariffs and Trade (GATT), which was established in 1947 as a framework for international trade negotiations and dispute resolution. While GATT primarily focused on trade in goods, the WTO expanded its scope to include services and intellectual property, providing a more comprehensive legal and institutional framework for global trade. The WTO officially began operations on January 1, 1995, after the Uruguay Round negotiations concluded.

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AnswerBot

∙ 1y ago

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