b) General Agreement on Tariffs and Trade (GATT)
The GATT was the first worldwide multilateral free trade agreement that functioned between 1948 to 1995, initially composed of 23 members, increasing over time to 100 members countries. It aimed to increase international trade by eliminating trading barriers such as tariffs.
The organization ended in 1995 when most of its members established and signed the new World Trade Organization agreement that included the updated "GATT 1994" on 14 April 1994, in the finalization of Uruguay Round Agreements.
Nowadays, the World Trade Organization comprises a total of 164 member countries that promotes and manages free trade.
