Question

The World Trade Organization was created by the a. United Nations. b. Tokyo Round. c. Kennedy Round. d. League of Nations. e. Uruguay Round.

Answer 1

Answer:

The correct answer is E. Uruguay Round.

Explanation:

The Uruguay Round was the eighth world trade round carried out under the GATT, which took place between 1986 and 1994. In this round of negotiations, the industrialized countries shifted their focus for the first time from the liberalization of trade in goods to so-called trade in services and the protection of intellectual property. The developing countries, on the other hand, which make up the majority of the participating countries, demanded better market access for their products, especially textiles and agricultural products, in the industrialized countries. Another topic of the Uruguay Round was institutional reforms, which resulted in the establishment of the World Trade Organization (WTO).