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    Group 1 - GATT - A Brief Introduction

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    SwethaKandukuri
    The document provides information about the General Agreement on Tariffs and Trade (GATT). It discusses that GATT was a multilateral agreement from 1947 to regulate international trade and reduce tariffs and trade barriers. GATT underwent nine rounds of negotiations where member countries agreed to further tariff reductions. In 1995, GATT was replaced by the World Trade Organization, which continues to operate under the original GATT framework with modifications. The document outlines some of the major outcomes and tariff concessions agreed during GATT meetings between 1947 to 2001.

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    Group 1 - GATT - A Brief Introduction

    Uploaded by

    SwethaKandukuri
    135 views6 pages
    The document provides information about the General Agreement on Tariffs and Trade (GATT). It discusses that GATT was a multilateral agreement from 1947 to regulate international trade and reduce tariffs and trade barriers. GATT underwent nine rounds of negotiations where member countries agreed to further tariff reductions. In 1995, GATT was replaced by the World Trade Organization, which continues to operate under the original GATT framework with modifications. The document outlines some of the major outcomes and tariff concessions agreed during GATT meetings between 1947 to 2001.

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    Group 1 - GATT -A Brief Introduction

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    The document provides information about the General Agreement on Tariffs and Trade (GATT). It discusses that GATT was a multilateral agreement from 1947 to regulate international trade and reduce tariffs and trade barriers. GATT underwent nine rounds of negotiations where member countries agreed to further tariff reductions. In 1995, GATT was replaced by the World Trade Organization, which continues to operate under the original GATT framework with modifications. The document outlines some of the major outcomes and tariff concessions agreed during GATT meetings between 1947 to 2001.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    135 views6 pages

    Group 1 - GATT - A Brief Introduction

    Uploaded by

    SwethaKandukuri
    The document provides information about the General Agreement on Tariffs and Trade (GATT). It discusses that GATT was a multilateral agreement from 1947 to regulate international trade and reduce tariffs and trade barriers. GATT underwent nine rounds of negotiations where member countries agreed to further tariff reductions. In 1995, GATT was replaced by the World Trade Organization, which continues to operate under the original GATT framework with modifications. The document outlines some of the major outcomes and tariff concessions agreed during GATT meetings between 1947 to 2001.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    GATT a brief

    By
    Group 1
    Swetha K. (9022)
    Nehal Bisen (9080)
    Rohit Mohta(9095)

    What is GATT ?
    The General Agreement on Tariffs and Trade (GATT) was a multilateral
    agreement regulating international trade.
    Its purpose was the substantial reduction of tariffs and other trade barriers
    and the elimination of preferences, on a reciprocal and mutually advantageous
    basis.
    It was negotiated during the United Nations Conference on Trade and
    Employment and was the outcome of the failure of negotiating governments
    to create the International Trade Organization (ITO).
    GATT was signed in 1947, took effect in 1948, and lasted until 1994; it was
    replaced by the World Trade Organization in 1995.

    However, the original GATT text (1947 ed.) is still in effect under the WTO
    framework, subject to modifications agreed in 1994.

    List of gatt
    meetings
    The GATT panel has
    met a total of NINE times
    since its inception in 1947.
    Key points are
    mentioned in the table
    given.
    The first meet was at
    Geneva in 1947 and the
    last one was in Doha in
    2001.
    We are still currently
    following the amendments
    made under the Doha
    meet.

    Name

    Start

    Duration

    No. of
    Countries

    Geneva

    April 1947

    7 months

    23

    Annecy

    April 1949

    5 months

    13

    Torquay

    Sep. 1950

    8 months

    38

    Geneva II

    Jan. 1956

    5 months

    26

    Dillon

    Sep. 1960

    11 months

    26

    Kennedy

    May 1964

    37 months

    62

    Tokyo

    Sep. 1973

    74 months

    102

    Uruguay

    Sep. 1986

    87 months

    123

    Doha

    Nov. 2001

    159

    Key highlights over the


    years
    1947 : Signing of the GATT. Tariff concessions worth $10 billion agreed on.
    1956 : Admission of Japan in the GATT.
    1964 : Anti-Dumping Issues Discussed for the first time. Tariff concessions worth $40
    billion of world trade.
    1973 : Tariff reductions worth $300 billion achieved.
    1986 : At the end of this round, the formation of WTO took place. This body
    along with framework setting, also became a regulatory and dispute settling body. The
    Trade negotiations were extended which led to about 40% reduction in tariffs.
    2001 : The Bali Package was signed in Dec. 2013 which caused significant lowering of
    trade barriers and was the first such agreement reached through the WTO. Still
    undergoing.

    Some important rulings by


    gatt
    MFN (Most Favoured Nation)
    The members agree to accord MFN status to each other. Exceptions allow for
    preferential treatment of developing countries, regional free trade
    areas and customs unions.
    Most favoured nation relationships extend reciprocal bilateral relationships
    following both GATT and WTO norms of reciprocity and non-discrimination.

    S&D (Special & Differential Treatment)


    Special and differential treatment (S&D) is a set of GATT provisions (GATT
    1947) that exempts developing countries from the same strict trade rules and
    disciplines of more industrialized countries.
    The least developed countries are further exempt.

    Thank you & have a nice day!!

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