- Published on
Legal Terms - General Agreement on Tariffs and Trade (GATT)
An international pact, formed in 1947, aimed at facilitating global free commerce by eliminating elevated taxes on commodities. The objectives of promoting free trade have been accomplished through eight negotiation rounds, with the final round, the Uruguay Round (1986–94), resulting in the formation of the World Trade Organization and further agreements to facilitate more global free trade.
An international pact, formed in 1947, aimed at facilitating global free commerce by eliminating elevated taxes on commodities. The objectives of promoting free trade have been accomplished through eight negotiation rounds, with the final round, the Uruguay Round (1986–94), resulting in the formation of the World Trade Organization and further agreements to facilitate more global free trade.
0 Comments