Which one of the following sequences is in correct chronological order that ultimately lead to the setting up of the World Trade Organisation (WTO)?

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Q: 68 (CDS-I/2003)
Which one of the following sequences is in correct chronological order that ultimately lead to the setting up of the World Trade Organisation (WTO)?

question_subject: 

Current Affairs

question_exam: 

CDS-I

stats: 

0,49,92,49,44,22,26

keywords: 

{'correct chronological order': [2, 2, 18, 6], 'world trade organisation': [0, 0, 2, 0], 'wto': [0, 1, 1, 1], 'sequences': [0, 0, 5, 7], 'uruguay rounds': [0, 0, 1, 0], 'marrakesh treaty': [0, 0, 0, 1], 'dunkel draft': [0, 1, 0, 0], 'uruguary rounds': [0, 0, 1, 0]}

The correct answer is option 1: GATT, Uruguay Rounds, Dunkel Draft, Marrakesh Treaty.

To understand why this is the correct chronological order, let`s break down each option:

- Option 1: GATT (General Agreement on Tariffs and Trade) was established first. The Uruguay Rounds of negotiations took place next, which aimed to expand GATT`s scope. The Dunkel Draft refers to the final negotiating text proposed by Arthur Dunkel, the director-general of the GATT during the Uruguay Rounds. Finally, the Marrakesh Treaty was signed, which established the World Trade Organisation (WTO) as a successor to GATT.

- Option 2: This option lists the Dunkel Draft before the Uruguay Rounds, which is incorrect. The Uruguay Rounds came before the Dunkel Draft, as mentioned earlier.

- Option 3: This option places the Uruguay Rounds before GATT, which is incorrect. GATT was established before the Uruguay Rounds.

- Option 4: This option puts the Marrakesh Treaty before the Dunkel Draft, which is incorrect. The Dunkel Draft was proposed before the Marrakesh Treaty.

Therefore, option 1 is the correct chronological order that led to the establishment of the WTO.