The Uruguay Round was the 8th round of multilateral trade negotiations conducted within the framework of the General Agreement on Tariffs and Trade (GATT). The Uruguay Round was launched in Punta del Este, Uruguay, in September 1986. It was debated since 1986 to 1994 and embracing 123 countries as "contracting parties". The Round came into effect on January 1, 1995 with deadlines ending in 2000 and in 2004 for developing countries.
The Uruguay Round led to the creation of the World Trade Organization (WTO), with GATT remaining as an integral part of the WTO agreements. The WTO replaced GATT as an international organization, but the General Agreement still exists as the WTO’s umbrella treaty for trade in goods. The WTO also enhanced the world trading status and created greater coherence to international economic policy since the it cooperated with the International Monetary Fund (IMF) and the World Bank.
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The Uruguay Round (GATT-UR), covered a wide range of trade issues, but the main issue was to reduce trade barriers for agricultural commodities.
The Uruguay Round extended the system of fixed import tariffs to replace the non-tariff import charges. Furthermore, it applied a 36% reduction in all tariffs in the case of advanced countries and a reduction of 24% for developing countries. For subsidized exports, most developed countries and the EU agreed to cut the level of their subsidies by 36% over six years and would reduce the volume of subsidized exports by 21% during the same period. The Uruguay Round had given the EU sufficient flexibility to manage its own internal policies as well as providing new opportunities for European
"Market Access for Goods: A Uruguay Round Summary for Developing Country Exporters." International Trade Forum.1 (1995): 4. ProQuest. Web. 8 Apr. 2014.
Gonzalez, Carmen G. "Institutionalizing Inequility: The WTO Agreement on Agriculture, Food Security and Developing Countries." Columbia Journal of Enviromental Law (2002): 431-487.
Following the Uruguay Round of multilateral trade negotiations, The World Trade Organization (WTO) was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT). The WTO is an international organization that watches over trade relationships between nations dealing with goods, services, intellectual property and investments. The main function of the WTO is “to ensure that trade flows as smoothly, predictably and freely as possible” (“The World Trade Organization”). The WTO helps international cooperation by providing countries with a fair forum for resolving disputes over trade issues. Member countries bring their trade disputes to the WTO rather than acting unilaterally. The organization also strives to lower the cost of living and boost economic growth by reducing protectionism and promoting freer trade. Member countries enjoy the security the trading rules provide, but they are required to commit to opening their markets and abiding by the commitments they agreed to.
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. The WTO is made up of two agreements which are negotiated and signed by the majority of the world’s trading nations. The main purpose is to help producers of goods and services, exporters, and importers conduct their business on a global scale. (World Trade Organization, 2015)
The World Trade Organization was developed in 1995 out of what was known as the Uruguay Round. Although GATT set rules they mostly dealt with issues just involving simple trade of goods and the distribution of tariffs. The WTO has a more broad job than the GATT; “…it oversees multilateral agreements relating not just to good, but...
The Self-Description – “The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.” (1) For more information see: http://www.wto.org/english/res_e/doload_e/inbr_e.pdf
...ada-U.S. Auto Pact of 1965: An Experiment in Selective Trade Liberalization.” Rev. ed. Paper presented at the Conference on Trade and Industrial Organization, Merida, Mexico, December 16-18, 1985.
The negotiation of the Services Agreement in Uruguay Round under World Trade Organization (WTO) in 1994 was starting point and lay the ground for new agreement for service liberalization. The General Agreement on Trade in Services is the first multilateral agreement on trade that has as its objective the progressive liberalization of trade in services. It provides for secure and more open markets in services in a similar manner as the General Agreement on Tariffs and Trade (GATT) has done for trade in goods.
The all over the world the each country joined one or more the trade organizations. One biggest organization is WTO (World Trade Organization). The 136 countries joined to WTO right now. The principle of WTO is Most-Favoured-Nation Treatment: Treating other people equally under the WTO agreements. Countries cannot normally discriminate between their trading partners, Grant someone a special favour and you have to do the same for all other WTO members. But some exceptions are allowed; the representative of example is the FTA.
The trend towards global trade liberalisation began in the 19th century, when reductions in transport and communication costs spurred trade. This continued through the Second World War (WWII), when economic agreements, such as Bretton Woods and The General Agreement on Tariffs and Trade (GATT), were formed in its aftermath which included the liberalisation of capital and goods markets and the reduction in tariffs. From 1947 to 1967, GATT negotiations reduced tariffs on all dutiab...
The World Trade Organization or WTO, is an international organization and its chief function is to open trade in order to benefit all countries in membership. According to the WTO’s website, “The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.” Established on January 1, 1995, the WTO remains the only global international organization which deals with the rules of trade between nations. The goal of the WTO is to improve the welfare of the member countries by aiding the producers of goods and services, importers and exporters, and conducting trade between nations. The WTO headquarters is located in Geneva,
One of the main reasons for the fast growth in international trade is caused by the process of trade liberalization which started taking place in the latter half of the twentieth century. After World War II a group of countries engaged in multilateral negotiations that would eventually lead to the creation of the General Agreement on Tariffs and Trade (GATT) in 1948. Under the GATT countries agreed to cut tariff rates that could lead...
WTO (2007) World Trade Report 2007 of International Trade Cooperation. Sixty Years of the Multilateral Trading System: Achievements and Challenges
The World Trade Organization, also known as the WTO, is an organization whose goal is to regulate and open trade among other nations (World Trade Organization). Also, the intention of this organization is to minimize trade barriers and establish rules for trade all over the world (Pulsipher & Pulsipher 37). The World Trade Organization was founded on January 1, 1995. This organization was created preceding the post war General Agreement on Tariffs and Trade, also known as, GATT (World Trade Organization). There are currently 164 countries who are members. 117 of these members are still developing countries (World Trade Organization). The headquarters is located in Geneva, Switzerland. The three main languages for this organization is English, Spanish, and French (World Trade Organization). The World Trade Organization is an important organization that affects trade all over the world.
Formation of WTO in 1995, which forced its member countries to lower restrictions on imports.