The multilateral trading system that is represented by the WTO is based on agreements. The WTO agreements are the outcomes of negotiations. Today’s WTO agreements are largely depend on the conclusions of the Uruguay Round.

The structure of the WTO is based on five pillars:

• The first pillar, trade in commodities, has been the founding framework of the multilateral trading system. As explained before, the GATT signed in 1947 has been the fundamental basis of the multilateral trading system in commodities. Then, the GATT 1947 was revisited at the Uruguay Round and referred as the GATT 1994. However, some commodities require specific regulations. Thus, they are configurated by separate agreements and annexes under the GATT 1994.
• Trade in services, which is the second pillar of the structure of the WTO, was not a subject of the GATT 1947. It is regulated by the GATS (General Agreement on Services Trade) within the structure of the WTO. The agreements and annexes under the auspices of the GATS are on movement of natural persons, shipping, telecommonication, air transport and financial services. Like in the GATT 1994, they constitute the integral part of the GATS.
• Third pillar of the structure of the WTO is the TRIPS (Trade Related Aspects of Intellectual Property Rights). It is the most comprehensive agreement on intellectual property rights. TRIPS covers: (1) copyright and related rights such as performers’ rights, producers of recordings and broadcasting set ups, (2) trademarks, (3) geographical indications, (4) industrial designs, (5) patents, (6) layoutdesigns of integrated circuits, (7) undisclosed information (WTO, 2019c). Intellectual property rights had not been dealt with the GATT 1947. It is the TRIPS that has regulated the intellectual property rights for the first time at the multilateral level.
• Fourth pillar of the structure of the WTO is the Trade Related Dispute Settlement. It usually refers to one of the most important innovations of the Uruguay Round. However, we should avoid a misunderstanding: Stating the Trade Related Dispute Settlement as one of the most important innovations of the Uruguay Round, we do not mean that it is a newly starting system. Conversely, there was a dispute settlement mechanism with the GATT 1947, based on Article XXII and Article XXIII of the GATT 1947. Nevertheless, the structural weaknesses due to the inherent circumstances led to an increased number of unresolved trade problems among the GATT 1947 countries. Thus, the GATT 1947 countries had to improve the dispute settlement mechanism at the Uruguay Round.
• The fifth and the last pillar of the structure of the WTO is the Trade Monitoring. Trade Monitoring is achieved by the Trade Policy Review Mechanism. The aim of the Trade Policy Review Mechanism is to assist efficient adherence of all the WTO member countries to the rules and procedures of the WTO as a whole. The main function of the Trade Policy Review Mechanism is to evaluate the effects of the trade policy implementations of the WTO member countries on the multilateral trading system. It also leads to a greater transparency within the trade policies of the WTO member countries.

As also understood from the information given, the correct answer is E. The structure of the WTO is based on five pillars.