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It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), and entered into force with the establishment of the WTO at the beginning of 1995. [1] Broadly, the sanitary and phytosanitary ("SPS") measures covered by the agreement are those aimed at the protection of human, animal or plant life or health from ...
In fact, following the establishment of the GATT Committee of Trade and Development in 1965, [4] the Group on Expansion of Trade among Developing Countries was set up to analyze the dynamics behind trade among developing countries. [5] In 1967, the first meeting of the Trade Negotiations Committee of Developing Countries in GATT was held.
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]
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 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 ...
1986-1994 - GATT negotiations culminate in the Marrakech Agreement that establishes the World Trade Organization (WTO). January 1, 1995 - The WTO comes into existence. May 1, 1995 - Renato Ruggiero becomes director-general for a 4-year term. December 9, 1996 – December 13, 1996 - The inaugural ministerial conference takes place in Singapore.
[16] [17] Four other states, China, Lebanon, Liberia, and Syria, were parties to GATT but subsequently withdrew from the treaty prior to the establishment of the WTO. [16] [18] China and Liberia have since acceded to the WTO. The remaining WTO members acceded after first becoming WTO observers and negotiating membership.
The Protocol on Trade Negotiations (PTN) is a preferential trade agreement signed on 9 December 1971 with the aim of increasing trade between developing countries in the framework of the General Agreement on Tariffs and Trade.