Which of the following statements is not true ?

Options

A. The General Agreement on Tariffs and Trade (GATT) had regulated global trade since 1947
B. GATT was replaced by the World Trade Organisation (WTO) in 1995.
C. The Most Favoured Nation principle under GATT provided that preferential trading agreements reached with one country should be extended to other countries.
D. The WTO has been able to cover in its agreements the agriculture and textile sectors which are the principal concerns for the Least Developed Countries (LDCs).