General Agreement on Tariffs and Trade (GATT) is a multilateral treaty that aims to promote trade among its members in manufactured and agricultural goods. About 120 countries subscribe to it. The GATT provides both a forum for discussing trade barriers and trade-related disputes and a code of conduct for its members. The members are called contracting parties. The first nations signed the GATT in 1947, and it became the main international agreement on world trade. In 1995, the World Trade Organization (WTO) was set up to administer the GATT and to reduce barriers to trade in services and in other areas not covered by the GATT. The WTO's headquarters are in Geneva, Switzerland.