- In April 1947, The United States had begun to negotiate with 23 states in Geneva for the mutual dismantling of trade barriers. In a protocol of October 30, 1947 they agreed to a reduction of trade barriers and to the temporary coming into force of some parts of the Havana Charter on January 1, 1948. This was called the General Agreement on Tariffs and Trade (GATT)
- Provisionally established for the failed international trade organization (ITO), in the form of a governmental agreement regulating international trade relations.
• To abolish quantitative restrictions and quotas, while tariffs had to be lowered.
• To avoid the formation of trade blocks
• Prescribed discriminatory treatment between trading partners.
With setting up of the GATT council in the 1960, the contracting parties transformed GATT de facto into an international organization.De jure, however, its status as such an organization in international law was only established in 1995 when it emerged into the WTO. In 1994 the revised GATT, the general agreement on trade in services (GATS) and the agreement in intellectual property rights (TRIPs) were amalgamated to form the WTO.
World Trade Organizations (WTO)
Policy Program of WTO
The regulative program of the WTO, complemented by some redistributive elements, is only to a small extent the result of program decisions of the international organization itself. The nucleus of WTO program is the rule of non-discrimination. This obliges all 148 members (as of the end of 2004) to accord others treatment as though they were nationals and to accord each other most-favored-nation status.
National treatment as follows: ‘the products of the territory of any contracting party imported into the territory of any other contracting party shall be accorded treatment no less favorable that that accorded to like products of national origin in respect of all laws,regulations... [continues]
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