Wto Agreement Signatories

Seven rounds of GATT negotiations took place (1949-1979). The first real GATT trade cycles (1947 to 1960) focused on further tariff reductions. Then, in the mid-sixties, the Kennedy Round produced a GATT anti-dumping agreement and a section on development. The Tokyo Round of the seventies was the first major attempt to remove trade barriers that do not exist in the form of tariffs and to improve the system by adopting a series of agreements on non-tariff barriers that, in some cases, interpreted existing GATT rules and, in others, opened up completely new avenues. Since not all GATT members accepted these plurilateral agreements, they were often informally referred to as “codes”. (The Uruguay Round amended several of these codes, turning them into multilateral commitments accepted by all WTO members. Only four of them remained plurilateral (those for government procurement, beef, civil aircraft and dairy products), but in 1997 WTO members agreed to terminate the agreements on beef and dairy products, leaving only two. [27]) Despite attempts in the mid-1950s and 1960s to establish some form of institutional mechanism for international trade, the GATT continued to function for nearly half a century as a semi-institutionalized settlement of multilateral treaties on a provisional basis. [28] The General Agreement on Trade in Services was created to extend the multilateral trading system to the services sector, just as the General Agreement on Tariffs and Trade (GATT) provides for such a system for trade in goods. The agreement entered into force in January 1995.

The General Agreement on Tariffs and Trade (GATT), signed in October. 30, 1947, from 23 countries, was a legal agreement that minimized barriers to international trade by eliminating or reducing quotas, tariffs, and subsidies while maintaining important regulations. The first ITA signatories that were allowed to maintain tariffs on a handful of products beyond 1 January 2000 were Taiwan, Costa Rica, India, Indonesia, South Korea, Malaysia and Thailand. Tariffs on these products will be phased out and will reach zero by 2005 at the latest. The Agreement on the Application of Sanitary and Phytosanitary Measures – also known as the SPS Agreement – was negotiated during the GATT Uruguay Round and entered into force with the establishment of the WTO in early 1995. Under the SPS Agreement, the WTO imposes restrictions on Members` policies on food safety (bacterial contaminants, pesticides, inspection and labelling) and animal and plant health (imported pests and diseases). The following list is historical. It contains the 128 signatories to GATT at the end of 1994 and the dates on which they signed the agreement. Click here for the current list of WTO Members. GATT still exists as the WTO Framework Agreement for Trade in Goods, updated following the Uruguay Round negotiations (a distinction is made between GATT 1994, the updated parts of GATT, and GATT 1947, the original agreement that is still at the heart of GATT 1994). [29] However, GATT 1994 is not the only legally binding agreement included in the Marrakesh Final Act.

a long list of about 60 agreements, annexes, decisions and arrangements was adopted. The agreements are divided into six main parts: In December 2013, the largest agreement within the WTO, known as the Bali Package, was signed. [114] One of the most important achievements of the GATT has been non-discriminatory trade. Each signatory member of the GATT was to be assimilated to all the others. This is called the most-favoured-nation principle and it has been adopted in the WTO. In practical terms, once a country has negotiated a tariff reduction with other countries (usually its main trading partners), the same reduction automatically applies to all GATT signatories. .