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A multilateral trading facility (MTF) is a European Union regulatory term for a self-regulated financial trading venue.These are alternatives to the traditional stock exchanges where a market is made in securities, typically using electronic systems.
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 ...
Although it was designed to serve multilateral agreements, during several rounds of GATT negotiations (particularly the Tokyo Round) plurilateral agreements created selective trading and caused fragmentation among members. WTO arrangements are generally a multilateral agreement settlement mechanism of GATT. [25]
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) provides such a system for merchandise trade. All members of the WTO are parties to the GATS. The basic WTO principle of most favoured nation (MFN) applies to GATS as well. However, upon accession ...
There is an increasing body of empirical evidence about the impact of trade facilitation on export competitiveness and growth. Studies reviewed by the Organisation for Economic Co-operation and Development (OECD, 2002) indicate that trade transaction costs amount to up to 15 percent of the value of traded goods globally.
For the WTO, the agreement can be viewed as a historic achievement as it is the first multilateral agreement since the WTO's inception in 1995. The Trade Facilitation Agreement of 2014 is a global multilateral initiative to rationalise the stringent procedures which govern international trade.
The 2016 World Trade Report examines the participation of Small and medium-sized enterprises (SMEs) in international trade, how the international trade landscape is changing for SMEs, and what the multilateral trading system does and can do to encourage more widespread and inclusive SME participation in global markets.
Dispute settlement or dispute settlement system (DSS) is regarded by the World Trade Organization (WTO) as the central pillar of the multilateral trading system, and as the organization's "unique contribution to the stability of the global economy". [1]