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The World Trade Organization (WTO) is an international economic organization with legal powers derived from its founding convention, which allows it to regulate trade between its members, provide a forum for them to negotiate  trade rules and agreements . and provide them with a mechanism to solve their trade disputes.

​  The organization was established by the Marrakesh Agreement signed by the parties participating in the Uruguay Round which took place in the city of Punta del Este during the period from 20 September 1986 to 15 April 1994, and entered into force on 1 January 1995. Under this agreement, the decades-old dispute over the legal adaptation of the GATT or the General Agreement on Tariffs and Trade, which operated as an international organization where it has not  been recognized as such.

With the establishment of the World Trade Organization, the GATT became known as the 1947 GATT to distinguish it from  the new GATT 1994, which is merely   the GATT 47 with some amendments and several complementary rules. This  change brought an end  to the GATT 1947, and the new GATT 1994became part of  the  Marrakech Agreement.