The term PART OF GATT can be solved by the five-letter word TRADE. GATT stands for General Agreement on Tariffs and TRADE, which is an international agreement that was signed in 1947 to reduce tariffs and other TRADE barriers among participating countries. The agreement was later replaced by the World TRADE Organization in 1995. TRADE is therefore a part of GATT, as it is the exchange of goods and services between countries.