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GATT
Established after Second World War Strived hard along with the World Bank and the
International Monetary Fund to achieve international economic co-operation.
Year/Years
Name(Round)
No. Countries
1947
1949 1950-51 1955-56 1961-62 1963-67 1973-79 1986-94
Geneva Round
Annecy Round Torquay Round Geneva Round Dillon round Kennedy Round Tokyo Round Uruguay Round
23
13 38 26 26 62 102 123
2001-present
Doha Round
150
The Round transformed the GATT into the World Trade The Round came into effect in 1995 and has been implemented
over the period to 2000 under the administrative direction of the newly created World Trade Organization (WTO).
Followed
by negotiations in Geneva, Brussels, Washington, D.C., and Tokyo, with the 20 agreements finally being signed in Marrakeshthe Marrakesh Agreement in April 1994.
OBJECTIVES
To reduce agricultural subsidies To put restrictions on foreign investment To begin the process of opening trade in
services like banking and insurance.
BACKGROUND
The 1982 Ministerial Declaration identified
problems including structural deficiencies, spillover impacts of certain countries' policies on world trade GATT could not manage.
Finally, In November 1992, the US and EU settled On April 15, 1994, the deal was signed by ministers
from most of the 123 participating governments at a meeting in Marrakesh, Morocco.
ACHIEVEMENTS
An umbrella agreement (the Agreement Establishing the
WTO)
Dispute settlement understanding(DSU) Agreement on Customs Valuation Reviews of governments' trade policies (TPRM)
WTO is an institutional body. The WTO expanded its scope from traded goods to include trade within the service sector and intellectual property rights. Although it was designed to serve multilateral agreements, during several rounds of GATT negotiations plurilateral agreements created selective trading and caused fragmentation among members. WTO arrangements are generally a multilateral agreement settlement mechanism of GATT.
Trade Agreements
The Agreement on Agriculture. The Agreement on the Application of Sanitary and
Phytosanitary Measures.
The Agreement on Textiles and Clothing. The Agreement on Technical Barriers to Trade. The Agreement on Trade-Related Investment
Measures.
The Agreement on Preshipment Inspection. The Agreement on Rules of Origin. The Agreement on Import Licensing Procedures. The Agreement on Subsidies and Countervailing Measures.
Agreement on Agriculture
The tariffs to be reduced on an average by 36 per
cent in the case of developed countries over 6 years and 24 percent in the case of developing countries over 10 years period.
The blue box allows countries unlimited spending for direct payments to
Agreement shall not apply to: (a) developing country Members exports of handloom fabrics of the cottage industry, or hand-made cottage industry products made of such handloom fabrics, or traditional folklore handicraft textile and clothing products (b) historically traded textile products which were internationally traded in commercially significant quantities prior to 1982, such as bags, sacks, carpet backing, cordage, luggage, mats, mattings and carpets typically made from fibres such as jute, coir, sisal, abaca, maguey and henequen; (c) products made of pure silk
Agreement on Safeguards
To improve the safeguards process and thereby encourage
countries to choose this option over antidumping. imported irrespective of its source.
limit trade, as opposed to technical requirements created for legitimate purposes such as consumer or environmental protection. of Sanitary and Phytosanitary Measures
Criteria Mode 1: Cross-border supply Service delivered within the territory of the Member, from the territory of another Member
Supplier Presence
Service delivered outside the Mode 2: Consumption territory of the Member, in the abroad territory of another Member, to a service consumer of the Member Mode 3: Commercial presence
Service delivered within the territory of the Member, through the commercial presence of the supplier Service supplier present within the territory of Service delivered within the territory the Member of the Member, with supplier present as a natural person
Note: From the document MTN.GNS/W/124, available on the World Trade Organization Website, posted courtesy of ISTIA