Which organization was created on 1 January 1995 to oversee global trade rules?

The World Trade Organization was created on 1 January 1995 to oversee global trade rules.

The WTO replaced the General Agreement on Tariffs and Trade as the main institutional framework for international trade. Its legal foundation is the Marrakesh Agreement, signed in Morocco in April 1994 after the Uruguay Round of trade negotiations.

The WTO provides a forum for negotiating trade agreements, monitors members’ trade policies, and administers a system for settling disputes. It covers goods, services, and trade-related intellectual property.

A common mix-up is treating the WTO as a global customs agency. It does not collect import duties or directly control national borders; its role is to establish and administer agreed trade rules among governments.