The Uruguay Round Of Negotiations Created The Trips Agreement To

The 1986 Ministerial Declaration referred to problems such as structural deficiencies and the knock-on effects of some countries` policies on world trade, which the GATT has not been able to resolve. To address these problems, the Eighth Round of GATT (known as the Uruguay Round) was launched in September 1986 in Punta del Este, Uruguay Round. [5] This was the largest trade negotiating mandate ever agreed: discussions should extend the trading system to several new areas, including trade in services and intellectual property, and reform trade in sensitive sectors of agriculture and textiles. All original GATT articles have been examined [2]. The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted under the General Agreement on Tariffs and Trade (GATT) from 1986 to 1993 and comprising 123 countries as “parties”. The round led to the creation of the World Trade Organization, with GATT remaining an integral part of the WTO agreements. The broad mandate of the Round was to extend GATT trade rules to areas that were previously exempt from excessive liberalization (agriculture, textiles) and to new and increasingly important sectors that were not previously included (trade in services, intellectual property, distortions of investment trade). [1] The round entered into force in 1995 and the deadlines expired in 2000 (2004 in the case of parties to developing countries) under the administrative direction of the newly created World Trade Organization (WTO). [2] Gatt is still the WTO Framework Treaty on Trade in Goods, updated following the Uruguay Round negotiations (a distinction is made between GATT 1994, the updated parts of GATT, and GATT 1947, the original agreement that remains at the heart of GATT 1994). [10] However, GATT 1994 is not the only legally binding agreement contained in the Final Act. a long list of about sixty agreements, annexes, decisions and agreements was adopted. Indeed, the agreements fall within a simple structure of six main parts: the twenty agreements were signed in Marrakesh in April 1994 – the Marrakesh Agreement. .

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