Gatt (general Agreement On Tariffs And Trade). A multilateral agreement regulating international trade Aims for substantial reduction of tariffs and other trade barriers and the elimination of preferences on a reciprocal and mutually advantageous basis Negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments 8. The General Agreement on Tariffs and Trade was a free trade agreement that eliminated tariffs and increased international trade.
1 As the first worldwide multilateral free trade agreement the GATT governed a significant portion of international trade between January 1 1948 and January 1 1995. General Agreement on Tariffs and Trade GATT is a legal agreement between many countries whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. With respect to customs duties and charges of any kind imposed on or in connection with importation or exportation or imposed on the international transfer of payments for imports or.
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The text is identical to that published since 1969 as Volume IV in the series Basic Instruments and Selected. The United States and. From 1947 to 2001 GATT has organized 12 trade negotiations. This is stated in its preamble.
