Articles of category "GATT"

Signed in 1947 in Bretton Woods, the General Agreement on Tariffs and Trade or GATT is a multilateral agreement designed to regulate trade among 150 countries worldwide. GATT research is responsible for looking into ways to reduce tariffs and other trade barriers and eliminate preferences on mutually advantageous basis. The Agreement also actively participated in the creation of the World Trade Organization, which came into being in January 1995.

Created at the Bretton Woods meeting that took place in New Hampshire in 1944, General Agreement on Tariffs and Trade, commonly known by its acronym GATT, was a precursor to the WTO trading system. Signed by 23 nations, the agreement set out a plan for economic recovery by encouraging the reduction in tariffs and other international trade barriers. Among the most important changes made in the Agreement was the introduction of the World Trade Organization.