The World Trade Organisation (WTO) was established on 1 January ___

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The World Trade Organisation (WTO) was established on 1 January ____

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Detailed Solution

The World Trade Organisation (WTO) was established on 1 January 1995. On that day, 123 nations signed the agreement to form the World Trade Organisation in place of the former General Agreement on Trade and Tariff (GATT). Since then, several countries have been added and removed from their membership. As of July 2016, there were around 165 member countries in the World Trade Organisation. All the member countries are regulated by the terms of the WTO and are obliged to follow the rules, laws, and policies framed under WTO rules. India is also one of the essential members of crucial or critical international trade policies.

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