The GATT came into action by its 23 founding members on October 30, 1947 and came into force on January 1, 1048. The original 23 founding countries include the US, Chile, India, Syria, UK, Netherlands, Canada, Australia, Myanmar, Lebanon, Norway, Cuba, New Zealand, Sri Lanka, South Africa, Belgium, Czechoslovakia Brazil, China, Pakistan, Zimbabwe, and Luxemburg (WTO 2012).
The WTO’s predecessor, GATT came into existence after World War II with the intention of harmonizing and facilitating international trade. The international community at that time raised awareness of the need for a multinational organization in addition to IMF and World Bank. ...
