Scribd
Upload
122 views8 pages

Presentation On: General Agreement On Trade and Tariffs

The General Agreement on Tariffs and Trade (GATT) was an agreement signed in 1947 by 23 countries to reduce trade barriers and encourage global trade. It established rules for international trade and provided a forum for resolving trade disputes. GATT required countries to provide most favored nation status to each other and prohibited restrictions on imports and exports, with some exceptions. Its objectives were reducing trade barriers and improving global production, exchange, and living standards. India was one of the original 23 signatories and has played a leadership role for developing countries in subsequent trade negotiations under GATT.

Uploaded by

nemthianniang ngaihte
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
122 views8 pages

Presentation On: General Agreement On Trade and Tariffs

The General Agreement on Tariffs and Trade (GATT) was an agreement signed in 1947 by 23 countries to reduce trade barriers and encourage global trade. It established rules for international trade and provided a forum for resolving trade disputes. GATT required countries to provide most favored nation status to each other and prohibited restrictions on imports and exports, with some exceptions. Its objectives were reducing trade barriers and improving global production, exchange, and living standards. India was one of the original 23 signatories and has played a leadership role for developing countries in subsequent trade negotiations under GATT.

Uploaded by

nemthianniang ngaihte
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

P R E S E N TAT I O N O N :

GENERAL
AGREEMENT ON
T R A D E A N D TA R I F F S

Presented by:
Chiinngaihnem
Chingbiakhoih L
HISTORY :
 Globalization started blossoming in the 1890s. By the end of 19th
Century, trade was very free.
 Then, globalization began to fail at the end of World War I.
 At the beginning of  20th Century after World War
II, economic pushed countries to imposed trade barriers to divert
national demand away from imports and
towards domestically produced goods.
 Several organizations were formed and treaties were then
signed, one of which is the GATT (General Agreement on Trade and
Tariffs).
INTRODUCTION:
 The General Agreement on Tariffs and Trade (GATT), was first signed on
October 30, 1947 by 23 countries in Geneva, Switzerland and went into
effect on January 1, 1948.
 A legal agreement minimizing barriers to international trade by eliminating
or reducing quotas, tariffs and subsidies while preserving significant
regulations.
 GATT was designed to provide:
     1. An international forum.
     2. That encourage free trade between member countries.
     3. By regulating and reducing tariffs on traded goods.
     4. Providing a common mechanism for resolving trade disputes.
WHAT EXACTLY WAS AGREED UPON?
GATT has three main provisions:
 GATT requires all its members to confer "most favored nations" status to
each other.
 GATT prohibited restriction on the number of imports and exports. A few
restrictions were allowed as exceptions: if a government has surplus had
surplus agricultural products, if a country's foreign exchange reserves were
low, if a developing country needed to protect its younger industries, and
if reasons of national security overweighted economic factors.
 A late provision intended to help developing countries that joined GATT.
Developed countries agree to eliminate tariffs on imports from developing
countries to help boost the latter's country.
OBJECTIVES OF GATT:
 According to the Preamble of GATT, the main objective was the "Reduction of Barriers to
International Trade".
 To encourage full employment, large and steady growing volume of real income and
effective demand.
 To improve world production and exchange of goods.
 To ensure the full use of world resources.
 To ensure a steady improvement in the living standards of people in member countries.
 To settle disputes through consultation within the framework of GATT.
GATT and INDIA:
 India was one of the 23 founding
contracting parties to the GATT.
 India has often led groups of less
developed countries in subsequent rounds
of multilateral trade negotiations (MTNs)
under the auspices of the GATT.

You might also like