Read the given paragraph and answer the following questions.

The World Trade Organization (WTO), established in 1995 under the Marrakesh Agreement, replaced the General Agreement on Trade and Tariffs (GATT). Headquartered in Geneva, Switzerland, the WTO is the only global international organization focused on the rules of trade between nations and is regarded as the Third Pillar of the World Economy. With 164 members, including India as a founding member, and 23 observer governments, the WTO aims to formulate and implement international trade rules, facilitate trade negotiations, and resolve disputes. It also assists developing and least-developed countries through technical cooperation and training, and collaborates with key economic institutions like the UN, World Bank, and IMF.