NOCTI General Management Practice Exam

The World Trade Organization (WTO) was established as a result of the Uruguay Round negotiations, which took place from 1986 to 1994. These negotiations were aimed at creating a comprehensive framework for international trade, extending beyond the previous agreements to cover a wider range of issues, including services and intellectual property rights.

The formation of the WTO in 1995 marked a significant overhaul of the multilateral trading system, transitioning from the General Agreement on Tariffs and Trade (GATT) to a more structured organization that provides a forum for trade negotiations, ensures adherence to trade agreements, and offers a mechanism for resolving disputes between member countries.

The other organizations mentioned have distinct functions that do not relate to the trade agreements of the Uruguay Round. The International Monetary Fund focuses on global financial stability and monetary cooperation. The Food and Agriculture Organization deals with food security and agricultural development. The United Nations Educational, Scientific and Cultural Organization promotes peace through international cooperation in education, the sciences, and culture. None of these organizations were specifically established through the Uruguay Round agreements, which is why they do not apply to the question.