The United States -- by far the world's largest arms producer and exporter -- has signed the treaty, but has yet to ratify it.
Other key exporters such as France, Britain and Germany have ratified the charter and pledged to adhere to its strict criteria aimed at cutting off weapons supplies to human rights violators worldwide.
"For too long, arms and ammunition have been traded with few questions asked about whose lives they will destroy," said Anna Macdonald, director of the Control Arms coalition of non-governmental organisations.
"It is now finally against international law to put weapons into the hands of human rights abusers and dictators," she said.
A total of 130 countries have signed the treaty and 60 have ratified it, including Israel which joined the movement just this month.
Campaigners however say much work lies ahead to implement the treaty, with a first meeting of the states parties to the treaty to be held around September next year.
Decisions will have to be made about the financing mechanisms for the pact and setting up a secretariat to oversee its implementation.
The first major arms accord since the 1996 Comprehensive Nuclear Test Ban Treaty, the ATT covers international transfers of everything from tanks to combat aircraft to missiles, as well as small arms.
The treaty compels countries to set up national controls on arms exports. States must assess whether a weapon could be used to circumvent an international embargo, be used for genocide and war crimes or be used by terrorists and organised crime.
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