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The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
One of the most significant changes was the creation of the World Trade Organization (WTO). The 76 existing GATT members and the European Communities became the founding members of the WTO on 1 January 1995. The other 51 GATT members rejoined the WTO in the following two years (the last being Congo in 1997). Since the founding of the WTO, 33 ...
The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) which entered into force in January 1995 as a result of the Uruguay Round negotiations. The treaty was created to extend the multilateral trading system to service sector , in the same way the General Agreement on Tariffs and Trade (GATT ...
National treatment is an integral part of many World Trade Organization agreements. Together with the most favoured nation principle, national treatment is one of the cornerstones of WTO trade law. It is found in all 3 of the main WTO agreements (GATT, GATS and TRIPS).
The GATT was the only multilateral instrument governing international trade from 1946 until the WTO was established on 1 January 1995. [9] Despite attempts in the mid-1950s and 1960s to create some form of institutional mechanism for international trade, the GATT continued to operate for almost half a century as a semi-institutionalized multilateral treaty regime on a provisional basis. [10]
In 1995, the World Trade Organization, a formal international organization to regulate trade, was established. [citation needed] The purposes and structure of the organization are governed by the Agreement Establishing The World Trade Organization, also known as the "Marrakesh Agreement". It does not specify the actual rules that govern ...
Labour standards in the World Trade Organization are binding rules, which form a part of the jurisprudence and principles applied within the rule making institutions of the World Trade Organization (WTO). Labour standards play an implicit, but not an overt role within the WTO, however it forms a prominent issue facing the WTO today, and has ...
The Marrakesh Agreement, manifested by the Marrakesh Declaration, was an agreement signed in Marrakesh, Morocco, by 123 nations on 15 April 1994, marking the culmination of the 8-year-long Uruguay Round and establishing the World Trade Organization, which officially came into being on 1 January 1995.