Question

Against a background of increasing pressures for protectionism, in 1986 GATT members embarked on an ambitious, seven-year effort to address a number of problems and eventually create the WTO as part of the effort. This was known as the ____________________.

Answer 1

Uruguay round

Step-by-step explanation:

• The WTO is concerned with the regulation of the regulation of the international trade between the member nations and was officially started on 1 Jan 1995, under the Marrakesh agreement and was a type of an intergovernmental organization that replaced the GATT as the largest economic organization in the world.