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GATT

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement signed in 1948 that governed international trade until 1995. It aimed to reduce trade barriers and increase trade liberalization. GATT had three main provisions: most favored nation status, prohibiting quantitative restrictions on trade, and exceptions for developing countries. Originally with 23 members, GATT grew to include over 128 countries and was replaced in 1995 by the World Trade Organization which expanded on its goals of free trade.

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311 views6 pages

GATT

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement signed in 1948 that governed international trade until 1995. It aimed to reduce trade barriers and increase trade liberalization. GATT had three main provisions: most favored nation status, prohibiting quantitative restrictions on trade, and exceptions for developing countries. Originally with 23 members, GATT grew to include over 128 countries and was replaced in 1995 by the World Trade Organization which expanded on its goals of free trade.

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mubariz khan
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GATT

GATT
The General Agreement on Tariffs and Trade (GATT) was a free trade agreement between 23
countries that eliminated tariffs and increased international trade.1 As the first
worldwide multilateral free trade agreement, GATT governed a significant portion of
international trade between January 1, 1948 and January 1, 1995. 2 The agreement ended when it
was replaced by the more robust World Trade Organization (WTO).

Purpose
The purpose of GATT was to eliminate harmful trade protectionism. That had sent global trade
down 66% during the Great Depression.4 GATT restored economic health to the world after the
devastation of the Depression and World War II.

Three Provisions
GATT had three main provisions. The most important requirement was that each member must
confer most favored nation status to every other member. All members must be treated equally
when it comes to tariffs. It excluded the special tariffs among members of the British
Commonwealth and customs unions. It permitted tariffs if their removal would cause serious
injury to domestic producers.
Second, GATT prohibited restrictions on the number of imports and exports. The exceptions
were:
 When a government had a surplus of agricultural products
 If a country needed to protect its balance of payments because its foreign exchange
reserves were low
 Emerging market countries that needed to protect fledgling industries

Member Countries
The original 23 GATT members were Australia; Belgium; Brazil; Burma, (now called
Myanmar); Canada; Ceylon, now Sri Lanka; Chile; China; Cuba; Czechoslovakia, now Czech
Republic and Slovakia; France; India; Lebanon; Luxembourg; Netherlands; New Zealand;
Norway; Pakistan; Southern Rhodesia, now Zimbabwe; Syria; South Africa; the United
Kingdom and the United States. The membership increased to more than 128 countries by 1994.

Countries Involve in WTO


 Afghanistan — 29 July 2016
 Albania — 8 September 2000
 Angola — 23 November 1996
 Antigua and Barbuda — 1 January 1995
 Argentina — 1 January 1995
 Armenia — 5 February 2003
 Australia — 1 January 1995
 Austria — 1 January 1995
 Bahrain, Kingdom of — 1 January 1995
 Bangladesh — 1 January 1995
 Barbados — 1 January 1995
 Belgium — 1 January 1995
 Belize — 1 January 1995
 Benin — 22 February 1996
 Bolivia, Plurinational State of — 12 September 1995
 Botswana — 31 May 1995
 Brazil — 1 January 1995
 Brunei Darussalam — 1 January 1995
 Bulgaria — 1 December 1996
 Burkina Faso — 3 June 1995
 Burundi — 23 July 1995
 Cabo Verde — 23 July 2008
 Cambodia — 13 October 2004
 Cameroon — 13 December 1995
 Canada — 1 January 1995
 Central African Republic — 31 May 1995
 Chad — 19 October 1996
 Chile — 1 January 1995
 China — 11 December 2001
 Colombia — 30 April 1995
 Congo — 27 March 1997
 Costa Rica — 1 January 1995
 Côte d’Ivoire — 1 January 1995
 Croatia — 30 November 2000
 Cuba — 20 April 1995
 Cyprus — 30 July 1995
 Czech Republic — 1 January 1995
 Democratic Republic of the Congo — 1 January 1997
 Denmark — 1 January 1995
 Djibouti — 31 May 1995
 Dominica — 1 January 1995
 Dominican Republic — 9 March 1995
 Ecuador — 21 January 1996
 Egypt — 30 June 1995
 El Salvador — 7 May 1995
 Estonia — 13 November 1999
 Eswatini — 1 January 1995
 European Union (formerly EC) — 1 January 1995
 Fiji — 14 January 1996
 Finland — 1 January 1995
 France — 1 January 1995
 Gabon — 1 January 1995
 Gambia — 23 October 1996
 Georgia — 14 June 2000
 Germany — 1 January 1995
 Ghana — 1 January 1995
 Greece — 1 January 1995
 Grenada — 22 February 1996
 Guatemala — 21 July 1995
 Guinea — 25 October 1995
 Guinea-Bissau — 31 May 1995
 Guyana — 1 January 1995
 Haiti — 30 January 1996
 Honduras — 1 January 1995
 Hong Kong, China — 1 January 1995
 Hungary — 1 January 1995
 Iceland — 1 January 1995
 India — 1 January 1995
 Indonesia — 1 January 1995
 Ireland — 1 January 1995
 Israel — 21 April 1995
 Italy — 1 January 1995
 Jamaica — 9 March 1995
 Japan — 1 January 1995
 Jordan — 11 April 2000
 Kazakhstan — 30 November 2015
 Kenya — 1 January 1995
 Korea, Republic of — 1 January 1995
 Kuwait, the State of — 1 January 1995
 Kyrgyz Republic — 20 December 1998
 Lao People’s Democratic Republic — 2 February 2013
 Latvia — 10 February 1999
 Lesotho — 31 May 1995
 Liberia — 14 July 2016
 Liechtenstein — 1 September 1995
 Lithuania — 31 May 2001
 Luxembourg — 1 January 1995
 Macao, China — 1 January 1995
 Madagascar — 17 November 1995
 Malawi — 31 May 1995
 Malaysia — 1 January 1995
 Maldives — 31 May 1995
 Mali — 31 May 1995
 Malta — 1 January 1995
 Mauritania — 31 May 1995
 Mauritius — 1 January 1995
 Mexico — 1 January 1995
 Moldova, Republic of — 26 July 2001
 Mongolia — 29 January 1997
 Montenegro — 29 April 2012
 Morocco — 1 January 1995
 Mozambique — 26 August 1995
 Myanmar — 1 January 1995
 Namibia — 1 January 1995
 Nepal — 23 April 2004
 Netherlands — 1 January 1995
 New Zealand — 1 January 1995
 Nicaragua — 3 September 1995
 Niger — 13 December 1996
 Nigeria — 1 January 1995
 North Macedonia — 4 April 2003
 Norway — 1 January 1995
 Oman — 9 November 2000
 Pakistan — 1 January 1995
 Panama — 6 September 1997
 Papua New Guinea — 9 June 1996
 Paraguay — 1 January 1995
 Peru — 1 January 1995
 Philippines — 1 January 1995
 Poland — 1 July 1995
 Portugal — 1 January 1995
 Qatar — 13 January 1996
 Romania — 1 January 1995
 Russian Federation — 22 August 2012
 Rwanda — 22 May 1996
 Saint Kitts and Nevis — 21 February 1996
 Saint Lucia — 1 January 1995
 Saint Vincent and the Grenadines — 1 January 1995
 Samoa — 10 May 2012
 Saudi Arabia, Kingdom of — 11 December 2005
 Senegal — 1 January 1995
 Seychelles — 26 April 2015
 Sierra Leone — 23 July 1995
 Singapore — 1 January 1995
 Slovak Republic — 1 January 1995
 Slovenia — 30 July 1995
 Solomon Islands — 26 July 1996
 South Africa — 1 January 1995
 Spain — 1 January 1995
 Sri Lanka — 1 January 1995
 Suriname — 1 January 1995
 Sweden — 1 January 1995
 Switzerland — 1 July 1995
 Chinese Taipei — 1 January 2002
 Tajikistan — 2 March 2013
 Tanzania — 1 January 1995
 Thailand — 1 January 1995
 Togo — 31 May 1995
 Tonga — 27 July 2007
 Trinidad and Tobago — 1 March 1995
 Tunisia — 29 March 1995
 Turkey — 26 March 1995
 Uganda — 1 January 1995
 Ukraine — 16 May 2008
 United Arab Emirates — 10 April 1996
 United Kingdom — 1 January 1995
 United States — 1 January 1995
 Uruguay — 1 January 1995
 Vanuatu — 24 August 2012
 Venezuela, Bolivarian Republic of — 1 January 1995
 Viet Nam — 11 January 2007
 Yemen — 26 June 2014
 Zambia — 1 January 1995
 Zimbabwe — 5 March 1995

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