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GATT/General Agreement on Trade and Traffic
- 2. 2 Presented by T.Sanjay snekha
- 3. 3 ◆GATT- General Agreement on Tariffs and Trade ◆The GATT was signed at Geneva on 30th October,1947 ◆By 23 nations who negotiated to prevent protectionism and to revive their economies from the recession. ◆It came into force on 1st januarJanuary 1948. #####
- 5. 5 First Round: Held in 1947 at Geneva ,it saw the birth of GATT.About 45,000 tariff concessions were conceded in this round and they covered nearly 50 per cent of the then global trade .23 countries participated in this round.
- 7. 7 Second Round: Held in 1949 at France , some 5,000 tariff concessions were exchanged.Only thirteen countries participated in this round.
- 9. 9 Third Round: Held in 1950 -1951 at Torquay in which 8700 tariff concessions yielding tariff reduction of about 25 per cent on 1949 level were exchanged. Thirty eight countries participated in this round.
- 11. 11 Fourth Round: Held in 1955 - 1956 at Geneva leading to about $2.5 billion worth of tariff reduction. Twenty six countries participated in this round.
- 13. Fifth Round: Held in 1961 - 1962 at Dillion for tariff negotiations with EEC members and others. Twenty six countries participated in this round.
- 15. 15 Sixth Round: Held during 1963 - 1967 at Kennedy.This ministerial level meeting opened a Trade Negotiations Committee. Sixty two countries participated in this round.
- 17. 17 Seventh Round: Held during 1973 - 1979 at Toyko in which 34 percent tariff reduction was obtained on industrial goods. Non tariffs barriers were also discussed. one hundred and two countries participated in this round.
- 19. 19 Eighth Round: ●Held during 1986 - 1994 at Uruguay in which wide ranging issues were taken up. ●Results included average cuts of 40% on industrial products a comprehensive programme of agricultural reforms liberalisation commitments on tariffs, domestic support and export subsidies replacement of all quantitative restrictions and other non tariff meadsures by tariffs etc.
- 20. 20 ●Initially there werre 117 participating countries and later on the number went up to 128. ●The Uruguay Round contained negotiations in 15 areas (14 for goods and 1 for services).
- 22. Thank you!!!