The institutional framework developed in 1947 to promote trade liberalization is known sa?
Correct answer: B. the GATT
- A. the WTO
- B. the GATT
- C. the IMF
- D. the World Bank
Explanation
The General Agreement on Tariffs and Trade, or GATT, was established in 1947 to reduce trade barriers and promote liberalization. The WTO was created later, in 1995, as its institutional successor.
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