Gatt

Sadat Academy for Management Science UNB Program GATT The General Agreement on Tariffs and dispense (GATT) was first signed in 1947. The concord was designed to countenance an international forum that encouraged free cunning surrounded by member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes. GATT social station now includes more than 110 countries. It was the outcome of the failure of negotiating governments to hit the International Trade Organization (ITO). The Bretton Woods Conference had introduced the composition for an organization to regulate trade as part of a larger plan for economic recovery after human race War II. As governments negotiated the ITO, 15 negotiating states began parallel negotiations for the GATT as a way to attain early tariff reductions. Once the ITO failed in 1950, only the GATT agreement was left. The GATTs main objective was the reduction of barriers to international trade. This was achieved through the reduction of tariff barriers, quantitative restrictions and subsidies on trade through a series of agreements. The GATT was a treaty, not an organization.

The functions of the GATT were taken over by the World Trade Organization which was launch during the final round of negotiations in early 1990s. The history of the GATT pot be divided into three phases: the first, from 1947 until the Torquay Round, largely concerned which commodities would be covered by the agreement and freezing existing tariff levels. A second phase, encompassing three rounds, from 1959 to 1979, focused on reducing tariffs. The third phase, consisting only of the Uruguay Round from 1986 to 1994, extended the agreement full moony to new areas such as intellectual property, services, capital, and agriculture. turn out of this round the WTO was born. The Role of the World Bank As a information institution, the World Bank supports two broad goals in southmost East Europe: (i) poverty... If you want to get a full essay, order it on our website: Orderessay

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