The Uruguay Round At Punta Del Este Essay

Unlike previous years of solely trading goods, the WTO allowed for trade to consist of property and services among different countries. Countries could now be globalized in all goods their country didn’t have through the use of free trade. The process of trading was revolutionized by new developments in technology as more and more countries began to trade.

Southern Uruguay consists mostly of rolling plains and is an eastward extension of the Argentine pampas. The Atlantic coastline is fringed with tidal lakes and sand dunes. Low, unbroken stretches of level land line the banks of the two border rivers, the Uruguay and the Plata. The Uruguay is the nation's longest river, with a total length of 1,610 kilometers (1,000 miles).

The Uruguay Round was the most comprehensive international trade agreement and was finalized December 15, 1993. “Its Final Act prescribes, among other things, that tariffs on industrial products be reduced by an average of more than one-third, that trade in agricultural goods be progressively liberalized, and that a new body, the World Trade Organization, be established both to facilitate the implementation of multilateral trade agreements such as the Final Act and to serve as a forum for future negotiations.” (Fieleke, 1995)

The World Trade Organization was developed in 1995 out of what was known as the Uruguay Round. Although GATT set rules they mostly dealt with issues just involving simple trade of goods and the distribution of tariffs. The WTO has a broader job than the GATT; “…it oversees multilateral agreements relating not just to good, but also to services, investment and intellectual property.” (Douglas Irwin, 186) The World Trade Organization is an independent organization and decisions are made out of consensus of the member countries involved, not from the World Trade Organization itself. When a country complains about another country and the way they run things that could affect their home country, the WTO must make a decision on what must be done. Once a ruling has been made the losing country must implement one of three strategies:

Over the years, the World Trade Organization (WTO) has prided itself as the central element in the international economic management system across the world. This system incorporates other international bodies such as the World Bank, the International Monetary Fund as well as a series of other regional trade regimes that are growing. Collectively, these structures provide a mechanism that addresses international economic interdependence as well enhancing economic interactions that offer the promise of maximizing social welfare across the globe. These aspects have been brought about due to the focus given in the post-Cold War era where international relations have evolved beyond a narrow emphasis on politico-military affairs.

The GATT’s main function was not to resolve trade disputes, which is different from WTO, but rather to provide a set of rules that countries could at least publicly declared that they follow, therefore giving all signatories to the agreement

The postwar era brought about a more multinational approach to dealing with trade issues, most notably in the establishment of the General Agreement on Tariffs and Trade (GATT) in 1948. Although there were high hopes that international labor standards could be established, the GATT made only vague references to the issue, and no concrete and enforceable standards were established. Thus, there was no provision for member states to take action against other members who

The TRIPS Agreement was issued by the World Trade Organisation (WTO) after arduous decision making over several years in the 1986-1994 'Uruguay Round ' of

With globalization, the world has become increasingly smaller when it comes to trade. Goods and trade can flow easier between different countries because of Free Trade agreements (FTAs). This means that international policies like multilateral, bilateral and regional free trade agreements are becoming more increasingly vital for countries. Multilateral trade agreement have traditionally been the most dominant approach with the World Trade Organization (WTO) who currently have 159 members. However, with so many members it also has a negative impact because of the difficulty of creating consensus agreement for example the disagreement on the agriculture which means that the Doha round is currently in

Following the Uruguay Round of multilateral trade negotiations, The World Trade Organization (WTO) was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT). The WTO is an international organization that watches over trade relationships between nations dealing

The World Trade Organization (WTO) was established and incorporated in January 1st 1995 at the amendment of the General Agreement on Tariff and Trade (GATT) in 1994 with the aim of regulating international trade. The creation of this organization clearly underscored the acceptance and commitment of trade liberalization by most of the international communities. Upon signing and ratifying the WTO

Apr. 15, 1994, 1867 UNTS 154 [hereinafter Marrakesh Agreement], Annex 1A, 1867 UNTS 190, reprinted in WORLD TRADE ORGANIZATION, THE LEGAL TEXTS: THE RESULTS OF THE URUGUAY ROUND OF MULTILATERAL TRADE NEGOTIATIONS 3, 17 (1999)

The history of GATT discussions and the present WTO are the birth right of commitments that the countries have voluntarily agreed with each other. To appreciate the foundation of the present blueprint of import protection across WTO member countries in addition to products and industries within those countries, it is important to turn to the past.

Every day in shops we can find food which was produced all around the world and what is more we can easily buy them without having to go abroad. Above mentioned example is the result of the declining trade and investment barriers between countries.

The World Trade Organization (WTO) The World Trade Organization (WTO) is responsible to negotiate and manage deals under the global rules of trade between nations. Its sole purpose and function is to ensure that trade flows as smoothly, predictably and freely as possible (WTO). Not included in the mission is to make all nations eternally blissful in trade agreements between nations. Ongoing issues of concern with products imported and exported creating tension between nations is addresses by the organization.