The WTO was founded in Geneva on 1st January 1995 year.
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between nations
It officially commenced operations on 1st January 1995, pursuant to the 1994 Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which was established in 1948.
The WTO is the world's largest international economic organization, with 164 member states representing over 96% of global trade and global GDP.
The organization prohibits discrimination between trading partners but provides exceptions for environmental protection, national security, and other important goals.
Hence, option B is correct.
Function
Part of the function of the World Trade Organization is to get the Understanding of Rules and Procedures Governing Dispute Settlement administered.
The Trade Policy Review Mechanism shall be administered by the WTO to cover trade-related intellectual property rights, services, and goods.
It provides a forum for negotiations and for settling disputes.
It oversees the implementation, administration, and operation of the covered agreements.
Chart titled Structure of WTO: Ministerial Conference above the Dispute Settlement Body, General Council and Trade Policy Review Body, and three councils below.
