CURRENT AFFAIRS FOR UPSC IAS

The World Trade Organization (WTO) commemorates the 30th anniversary of the Marrakesh Agreement, a pivotal moment in global trade history.

About Marrakesh Agreement

• Formally established by the Final Act of the Uruguay Round of Multilateral Trade Negotiations, the Marrakesh Agreement laid the foundation for the creation of the WTO.
• On April 15, 1994, the Marrakesh Agreement was signed by 123 countries, paving the way for the establishment of the WTO on January 1, 1995.
• Over the past three decades, the WTO has played a crucial role in facilitating a significant expansion in global trade, aiming to enhance living standards, bolster employment opportunities, and foster sustainable development.