Question

The chronological order of developments in the area of international trade:
(A). Uruguay round of talk
(B). General Agreement of Tariff and Trade (GATT)
(C). Doha round of talk
(D). Formation of WTO
Choose the correct answer from the options given below:

• A. (A), (B), (C), (D)
• B. (B), (C), (D), (A)
• C. (B), (A), (D), (C)
• D. (C), (B), (D), (A)

Hint:

Remembering that the Uruguay Round (1986–94) concluded with the creation of the WTO (1995) helps you link (A) and (D) in chronological order.
The Doha Round (2001) is the most recent WTO negotiation round.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
This question tests the historical development of international trade frameworks, from the signing of GATT to the establishment of the World Trade Organization (WTO) and subsequent negotiation rounds.

Step 3: Detailed Explanation:
Let us establish the correct timeline for each event:
- (B) General Agreement on Tariffs and Trade (GATT):
GATT was signed by 23 nations in October 1947 and officially went into effect on January 1, 1948.
It was designed to promote international trade by reducing tariffs and other trade barriers.
- (A) Uruguay Round of Talk:
The Uruguay Round was the 8th round of multilateral trade negotiations conducted under the framework of GATT.
It spanned from 1986 to 1994 and concluded with the Marrakesh Agreement, which significantly expanded global trade rules to include services and agriculture.
- (D) Formation of WTO:
The World Trade Organization (WTO) was officially established on January 1, 1995, as a direct outcome of the Marrakesh Agreement signed at the end of the Uruguay Round.
It replaced GATT as an international organization.
- (C) Doha Round of Talk:
The Doha Round (or Doha Development Agenda) is the latest round of trade negotiations among WTO members.
It was launched in Doha, Qatar, in November 2001, with a strong focus on improving the trading prospects of developing nations.
Ordering these events chronologically from earliest to latest:
GATT (1948) \(\rightarrow\) Uruguay Round (1986–1994) \(\rightarrow\) Formation of WTO (1995) \(\rightarrow\) Doha Round (2001).
This matches the sequence: (B), (A), (D), (C).

Step 4: Final Answer:
The correct chronological order corresponds to Option (C).