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The economists Harry White (left) and John Maynard Keynes at the Bretton Woods Conference [27]. The WTO precursor General Agreement on Tariffs and Trade (GATT) was established by a multilateral treaty of 23 countries in 1947 after 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 ...
The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement , signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. [ 2 ]
March 1948 - Charter of the ITO signed but US Congress rejects it, leaving GATT as the only international instrument governing world trade. 1949 - Second GATT Round of trade talks held at Annecy, France. 1950 - Third GATT Round held in Torquay, England. 1956 - The Geneva Round completed in May 1956, resulting in $2.5 billion in tariff reductions.
In June 2020, Nigerian President Muhammadu Buhari nominated Okonjo-Iweala as the country’s candidate to be director-general of the World Trade Organization (WTO). [54] She later advanced to the election's final round and eventually competed with Yoo Myung-hee .
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.
A ministerial conference of the World Trade Organization, in the Palace of Nations (Geneva, Switzerland).. The following is a list of the major existing intergovernmental organizations (IGOs).
Pages in category "World Trade Organization" The following 60 pages are in this category, out of 60 total. This list may not reflect recent changes. ...
[17] [18] After China joined the World Trade Organization (WTO), its service sector was considerably liberalized and foreign investment was allowed; its restrictions on retail, wholesale and distribution ended. [19] Banking, financial services, insurance and telecommunications in China were also opened up to foreign investment. [20]