What is the Uruguay Round of GATT?

The Uruguay Round of GATT (General Agreement on Tariffs and Trade) was an international trade law negotiation held from 1986 to 1994 that resulted in the creation of several new international agreements. These agreements addressed a range of topics related to international trade, including intellectual property rights, services, trade-related aspects of intellectual property rights, and dispute settlement. The main goals of the Uruguay Round negotiations were to create a stronger, more predictable, and more liberalized traded system through the implementation of tariff reduction and non-tariff barriers. The negotiations also sought to expand the coverage of the GATT to include areas not covered by earlier agreements, such as agriculture and services. At the conclusion of the Uruguay Round negotiations, the United States, the European Union, Japan, Canada, and 14 other countries signed the Final Act of the Uruguay Round, establishing the World Trade Organization (WTO) and introducing the Marrakesh Agreement to implement the rules and regulations for trade between members. The WTO now provides the legal framework for conducting international trade between member countries and is responsible for administering dispute settlement procedures and providing guidance on trade policy. The Uruguay Round also led to the creation of new agreements dealing with intellectual property rights, services, and trade-related aspects of intellectual property rights. The Uruguay Round and subsequent agreements like the North American Free Trade Agreement (NAFTA) have allowed increased trade activity between countries. In Alaska, this has resulted in lower cost and more diverse products available in stores, as well as increased opportunities for businesses to export goods and services to other countries.

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What is the Uruguay Round of GATT?

What is the Uruguay Round of GATT?

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