Meaning of gatt

 


 

Gatt

 

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International trade

Glossary of international trade terms

 

Meaning and definition of gatt :

 

General Agreement on Tariffs and Trade, now renamed the World Trade Organization. A multilateral treaty adhered to by over 124 nations which provides a set of rules for trade policies and a means for settling disputes among member nations. After eight years of negotiations, the Uruguay Round Agreement of the GATT nations, creating a global trade accord, was voted on by the U.S. Congress in December 1994 and approved for American participation. The pact is expected to lower world tariffs by 40 percent, cut subsidies globally, expand protection for intellectual property, and set rules for investment and trade in services.

 

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Source : http://www.irantender.com/english/Document/Glossary%20of%20International%20Trade%20Terms.doc

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Glossary of international trade terms

 

Gatt

 

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Meaning and definition of gatt
Gatt