The earlier name of the World Trade Organization (WTO) was indeed the General Agreement on Tariffs and Trade (GATT). GATT was established in 1947 as an international treaty with the primary objective of promoting international trade by reducing tariffs and trade barriers among member countries.

GATT operated as a framework for multilateral trade negotiations and the formulation of trade rules. It aimed to foster economic cooperation and facilitate the expansion of global trade. GATT provided a forum for member countries to negotiate and agree upon tariff reductions, trade liberalization measures, and dispute resolution mechanisms.

The main principles of GATT were non-discrimination, most-favored-nation treatment (MFN), and reciprocity. The principle of non-discrimination aimed to ensure that member countries treat all trading partners equally. MFN treatment required that any trade concessions granted to one member country should be extended to all other members. Reciprocity meant that trade concessions should be reciprocal, with countries granting similar trade benefits to each other.

However, as the scope of international trade expanded and new trade-related issues emerged, there was a need for a more comprehensive and institutionalized framework. Consequently, the World Trade Organization (WTO) was established in 1995, building upon the foundation of GATT. The WTO expanded the focus beyond just trade in goods to include services, intellectual property rights, and various trade-related aspects such as agriculture, subsidies, and investment.

The WTO provides a platform for member countries to negotiate trade agreements, settle trade disputes through its Dispute Settlement Mechanism, and monitor and enforce compliance with trade rules. It plays a vital role in facilitating global trade, promoting fair and transparent trading practices, and providing a platform for member countries to address trade-related issues.

In summary, the earlier name of the WTO was GATT (General Agreement on Tariffs and Trade), which was replaced by the WTO in 1995. GATT served as an international treaty promoting trade liberalization and establishing trade rules, while the WTO expanded upon these objectives and broadened its scope to encompass various aspects of international trade.