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Sir. GATT was replaced by W.T.O on1 Jan.1995. Because of the limitations of GATT over increasing international business trend and new business & products.
Also Sir. GATT is now subset of W.T.O.
The main reason GATT was dissolved is because GATT had no binding power on its members. GATT was like a social club where everyone advised but no member was bound to follow the suggestions. Basically, GATT was powerless and needed to be replaced by WTO where members are somehow bound and powered by the institution's authority.
