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The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland [6] that regulates and facilitates international trade. [7] Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System .
The Agreement on Technical Barriers to Trade, commonly referred to as the TBT Agreement, is an international treaty administered by the World Trade Organization.It was last renegotiated during the Uruguay Round of the General Agreement on Tariffs and Trade, with its present form entering into force with the establishment of the WTO at the beginning of 1995, binding on all WTO members.
The Agreement on the Application of Sanitary and Phytosanitary Measures, also known as the SPS Agreement or just SPS, is an international treaty of the World Trade Organization (WTO). 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 ...
In 1995, the World Trade Organization, a formal international organization to regulate trade, was established. [citation needed] The purposes and structure of the organization are governed by the Agreement Establishing The World Trade Organization, also known as the "Marrakesh Agreement". It does not specify the actual rules that govern ...
The CISG is written using "plain language that refers to things and events for which there are words of common content". [14]This was intended to allow national legal systems to be transcended through the use of a lingua franca that would be mutually intelligible among different cultural, legal, and linguistic groups.
When world trade began to expand dramatically in the 1960s, national governments began to realize the need for a global set of standards and rules to harmonize national and regional regulations, which until then governed international trade.
The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) which entered into force in January 1995 as a result of the Uruguay Round negotiations. 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 ...
The Agreement on Trade-Related Investment Measures (TRIMs) are rules that are applicable to the domestic regulations a country applies to foreign investors, often as part of an industrial policy. The agreement, concluded in 1994, was negotiated under the WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), and came into force ...