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Barbados is an original member (1995) of the World Trade Organization (WTO) and participates actively in its work. It grants at least MFN treatment to all its trading partners. European Union relations and cooperation with Barbados are carried out both on a bilateral and a regional basis.
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 ]
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 ...
Barbados' recent policy has been to focus and strengthen ties with nations that country feels will enhance its diplomacy or foreign trade. Barbados has sought to engage in multilateral diplomacy through the United Nations, the Caribbean Community (CARICOM), the Association of Caribbean States (ACS), the group of ACP countries, the Organization ...
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.
Barbados is an island country in the southeastern Caribbean Sea, situated about 100 miles (160 km) east of Saint Vincent and the Grenadines.Roughly triangular in shape, the island measures some 21 miles (34 km) from northwest to southeast and about 14 miles (23 km) from east to west at its widest point.
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.
This includes the World Trade Organization, the International Organization for Migration, the International Committee of the Red Cross, and other non-governmental organizations. Permanent representatives normally hold the personal rank of ambassador.