{"id":36801,"date":"2024-04-04T10:13:46","date_gmt":"2024-04-04T10:13:46","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=36801"},"modified":"2024-04-04T10:13:48","modified_gmt":"2024-04-04T10:13:48","slug":"gatt-and-wto-upsc-economy-notes","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/gatt-and-wto-upsc-economy-notes\/","title":{"rendered":"GATT and WTO – UPSC Economy Notes"},"content":{"rendered":"\n
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Introduction:<\/strong> The General Agreement on Tariffs and Trade (GATT) emerged in 1947 with the goal of establishing a fair and open international trading system by eliminating trade barriers among member countries. GATT was officially adopted in 1948 with 23 founding members, including India. Over time, GATT evolved through a series of negotiations known as trade rounds, addressing various issues and expanding its scope.<\/p>\n\n\n\n

GATT Trade Rounds:<\/strong> The GATT trade rounds were a series of negotiations that focused on specific issues and led to agreements among member countries. The eight GATT rounds were:<\/p>\n\n\n\n

  1. Havana Round (1947):<\/strong><\/li>
  2. Annecy Round (1949):<\/strong><\/li>
  3. Torquay Round (1950):<\/strong><\/li>
  4. Geneva Fourth Round (1956):<\/strong><\/li>
  5. Dillon Round (1960-1961):<\/strong><\/li>
  6. Kennedy Round (1962-1967):<\/strong><\/li>
  7. Tokyo Round (1973-1979):<\/strong><\/li>
  8. Uruguay Round (1986-1994):<\/strong>