Definition Of General Agreement

When the Dillon Round took place in the laborious process of individual negotiations on customs duties, it became clear well before the end of the Round that a more comprehensive approach was needed to address the challenges arose from the creation of the European Economic Community (EEC) and EFTA, as well as the rebirth of Europe as an important international trader in general. While gatt was a set of rules agreed upon by nations, the WTO is an intergovernmental organization with its own headquarters and staff, and its scope encompasses trade in goods, trade in services and intellectual property rights. Although intended to serve as multilateral agreements, plurilateral agreements have resulted in selective trade and fragmentation of members in several rounds of GATT negotiations (notably Tokyo). WTO agreements are generally a multilateral GATT resolution mechanism. [24] In addition to the expansion and revision of gatt provisions, these negotiations have resulted in the adoption of numerous new multilateral treaties on trade in services, the international treatment of intellectual property and the creation of the WTO in order to settle all these agreements and settle disputes between members. The WTO would succeed GATT as a comprehensive framework for international trade at the end of the Uruguay Round and would enter into force in 1995. In addition to facilitating applied tariff reductions, the contribution of the FIRST GATT to trade liberalization includes “the commitment of negotiated tariff reductions for an extended period (more durable in 1955), the determination of the generalized nature of non-discrimination by most-favoured treatment (MFN) and the status of domestic treatment, the guarantee of greater transparency of trade policies and the establishment of a negotiating forum with a view to the peaceful settlement of bilateral disputes. All of these have contributed to streamlining trade policy and reducing trade barriers and political uncertainty. [4] For the most part, agriculture was excluded from previous agreements, since it was granted special status in the areas of import quotas and export subsidies, with slight reservations. However, at the time of the Uruguay Round, many countries felt that the exception to agriculture was so glaring that they refused to sign a new agreement without agricultural products without movement. . . .

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