How many nations are members of GATT?

128 countries
On 1 January 1995, the WTO replaced GATT, which had been in existence since 1947, as the organization overseeing the multilateral trading system.

How many WTO members are original?

All the Members of GATT 1947 decided by the end of the Uruguay Round of trade negotiations (1986-1994) to take on the greatly enlarged rights and obligations of the new organization they had negotiated — the World Trade Organization (WTO), which came into force on 1 January 1995 with 128 original Members.

How many countries participated in Geneva round 1986 GATT negotiations?

It was the most ambitious round to date, as of 1986, hoping to expand the competence of the GATT to important new areas such as services, capital, intellectual property, textiles, and agriculture. 123 countries took part in the round.

Who signed GATT in 1947?

The 23 founding members were: Australia, Belgium, Brazil, Burma, Canada, Ceylon, Chile, China, Cuba, Czechoslovakia, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, United Kingdom and the United States.

Is Russia a WTO member?

Russian Federation and the WTO. This page gathers key information on the Russian Federation’s participation in the WTO. The Russian Federation has been a member of WTO since 22 August 2012.

What is the name of the 8 th multinational negotiation of GATT?

The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1993 and embracing 123 countries as “contracting parties”.

Why did the WTO replace GATT?

It was refined over eight rounds of negotiations, which led to the creation of the World Trade Organization (WTO). It replaced the GATT on 1 January 1995. The GATT was focused on trade in goods….General Agreement on Tariffs and Trade (GATT)

Who is the founder of GATT?

What countries are members of GATT?

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;

How many GATT signatories are there?

It contains the 128 GATT signatories as at the end of 1994, together with the dates they signed the agreement. Click here to see the up-to-date list of WTO members.

What were the main provisions of the GATT?

The GATT had three main provisions. The most important requirement was that each member would confer most favored nation status to every other member. All members had to be treated equally when it came to tariffs. The agreement excluded the special tariffs among members of the British Commonwealth and customs unions.

What is the GATT 1994 agreement?

The GATT lives on as the foundation of the WTO. The 1947 agreement itself is now defunct. 9 However, its provisions were incorporated into the GATT 1994 agreement, which was designed to keep the trade agreements going while the WTO was being set up. Therefore, the GATT 1994 is itself a component of the WTO Agreement. Encourages international trade.