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September 2005 - Frenchman Pascal Lamy takes over as WTO director-general. He was formerly the European Commissioner for Trade. October 2005 - US offers to make big cuts in agricultural subsidies if other countries, notably EU do the same. November 11, 2005- WTO General Council successfully adopts Saudi Arabia's terms of Accession
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 as the World Bank (founded 1944) and the International Monetary Fund (founded ...
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 original members of the World Trade Organization are the parties to the General Agreement on Tariffs and Trade (GATT) after ratifying the Uruguay Round Agreements, [1] and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification.
The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade.. Led by the United States in collaboration with allies, the effort to form the organization from 1945 to 1948, with the successful passing of the Havana Charter, eventually failed due to lack of approval by the US Congress.
1 These countries are currently not participating in the EU's single market (EEA), but the EU has common external Customs Union agreements with Turkey (EU-Turkey Customs Union in force since 1995), Andorra (since 1991) and San Marino (since 2002).
The Warsaw Pact (WP), [d] formally the Treaty of Friendship, Cooperation and Mutual Assistance (TFCMA), [e] was a collective defense treaty signed in Warsaw, Poland, between the Soviet Union and seven other Eastern Bloc socialist republics of Central and Eastern Europe in May 1955, during the Cold War.