About General Agreement On Tariffs And Trade

At the same time, 15 countries focused on negotiating a simple trade agreement. They agreed to remove trade restrictions on $10 billion or one-fifth of the world`s trade zone. A total of 23 countries signed the GATT agreement on 30 October 1947, paving the way for its implementation on 30 June 1948. The WTO was created in 1995 to succeed the General Agreement on Tariffs and Trade (GATT) created after the Second World War. THE WTO agreements, which are important for food protection measures, are measures relating to health and plant health measures (SPS) 2 and technical barriers to trade (OTC). The SPS and OBT agreements are complementary, both constituting the general legal basis for other legally binding international agreements and instruments that will be adopted on a voluntary basis, such as the Code of Conduct for Responsible Fisheries (Karnicki, 1996). The SPS agreement includes: relevant laws, regulations and regulations; testing, inspection, certification and authorisation procedures; packaging and labelling requirements directly related to food safety. On the other hand, the TBT agreement includes all technical rules relating to traditional quality factors, fraudulent practices, packaging and markings. Among the original GATT members, Syria[19][20], Lebanon[21] and the LICO Yugoslavia have not re-joined the WTO. Given that Yugoslavia (renamed in Serbia and Montenegro and later two shared accession negotiations) is not recognised as a direct successor to the SFRY; Therefore, its application is considered new (non-GATT). On 4 May 2010, the WTO General Council decided to set up a working group to review Syria`s application for WTO membership.

[22] [23] The WTO parties terminated the 1947 GATT formal agreement on 31 December 1995. Montenegro became a member in 2012, while Serbia is in the decision-making phase and is expected to become a member of the WTO in the future. The Uruguay Round of multilateral trade negotiations of the General Agreement on Tariffs and Trade (GATT) ended in 1994, after 7.5 years of negotiations, with the signing of the final deed on 15 April 1994 in Marrakech, Morocco. This issue, known as the “GATT of 1994,” led to the creation of the World Trade Organization (WTO) on 1 January 1995. Among the agreements included in the WTO Treaty is the Agreement on the Application of Health and Plant Health Measures (SPS Agreement), which sets out the basic rules for the protection of human, animal and plant health during international trade (WTO, 1995). Browse or download the text of the “Multilateral Convention on Trade in Goods” from the Gateway legal texts One of GATT`s most important achievements has been indiscriminate trade. Any GATT signatory should be treated like any other, known to be the nation`s most privileged principle and entered into the WTO. The practical result was that, once a country had negotiated a tariff reduction with some other countries (usually its major trading partners), this reduction would automatically apply to all GATT signatories.