In this article we will discuss about:- 1. Introduction to GATT 2. GATT and Its Objectives 3. The GATT Conferences or Rounds of World Trade Negotiations 4. Role of GATT in the Uruguay Round 5. Role of GATT in the Dunkel Draft 6. GATT and Developing Countries 7. Defects. Introduction to GATT: The General Agreement on Tariffs and Trade (GATT) [...]
For the achievement of the principles and objectives of the GATT, the following provisions had been made: 1. The 'Most Favoured Nation' Clause 2. Quantitative Restrictions on Imports 3. Tariff Negotiations and Tariff Reduction 4. Subsidies and Counter-Veiling Duties 5. Complaints and Waivers 6. Settlement of Disputes. Provision # 1. The 'Most Favoured Nation' Clause: The most significant provision of [...]
The final draft of the World Trade Agreement consists of 500 pages. It includes 40 separate agreements. There are some new additions to agreements such as intellectual property rights, trade in services, agriculture, textiles and clothing, trade related investment, rules on dumping, governments procurements etc. The controversies had been raging earlier related to various proposals included in the Dunkel Draft [...]