One of its stated objectives was to contribute „to the harmonious development and expansion of world trade“ by removing barriers to bilateral trade. But these agreements must be seen in the global context as a stepping stone to full integration into a free global market economy. They are another way to ensure that Governments implement the liberalization, privatization and deregulation measures of the corporate globalization agenda. A free trade agreement (FTA) is an agreement between two or more countries in which countries agree, among other things, on certain obligations that affect trade in goods and services, investor protection and intellectual property rights. For the United States, the main objective of trade agreements is to reduce barriers to U.S. exports, protect U.S. competing interests abroad, and improve the rule of law in FTA partner countries. In December 1998, India and Sri Lanka signed a free trade agreement, with India agreeing to drop tariffs on a wide range of Sri Lankan products within three years, while Sri Lanka agreed to lift tariffs on Indian products for eight years. As you saw in the video, what started as an agreement (GATT) eventually became the WTO. Indeed, from 1946 to 1995, GATT was the only multilateral instrument to govern world trade. Given the difficulty of regulating trade between more than a hundred nations according to a single document, it is easy to understand why the WTO was created.
The participating nations understood that gatt was not able to adapt to an increasingly globalized world economy. When the Uruguay Round of GATT negotiations began in September 1986, it was the largest global effort to structure trade in history. Today, GATT still exists as the WTO`s single treaty for trade in goods, but it is no longer the only legally binding global trade agreement. Browse online Documents General documents related to regional trade agreements are coded WT/REG/*. As part of the Doha Trade Negotiation Mandate, they use TN/RL/* (* accepting additional values). These links open a new window: leave a moment before the results are displayed. On the other hand, some domestic industries benefit from it. They find new markets for their duty-free products. These sectors are growing and employing more labour. These compromises are the subject of endless debates among economists.
The Trade Relations Division (TRD) is responsible for the research, negotiation and implementation of preferential trade agreements with non-EU partner countries worldwide (declarations of cooperation, free trade agreements). . . .