1. The reason for the accuracy of the statement "It was founded in 1995" is that the World Trade Organization (WTO) was officially established on January 1, 1995, following the conclusion of the Uruguay Round of negotiations under the General Agreement on Tariffs and Trade (GATT). 
2. The WTO replaced the GATT as the primary international organization responsible for regulating and overseeing global trade.

    The other statements are also correct:

1. "It is a successor organization to GATT": This is true. The WTO succeeded the General Agreement on Tariffs and Trade (GATT) and expanded its scope to cover not only the trade in goods but also trade in services and intellectual property.

3. "GATT was established in 1948 with 29 countries": GATT was indeed established in 1948, and it started with 23 founding members. Over time, it expanded to include more member countries. THIS STATEMENT IS INCORRECT

4. "The aim of WTO is to promote a rule-based trading regime in which nations cannot place arbitrary restrictions on trade": This is a fundamental goal of the WTO. The organization's primary objective is to promote international trade by establishing rules and agreements that govern trade relations between countries, with the aim of reducing trade barriers and ensuring a more predictable and rule-based trading system.