Describe The Wto`s Trade Main Trade Agreement

Most favoured nation (MFN) treatment. (Article II) Governments of WTO member states are required to treat service providers in other Member States. This means that the treatment should not be less favourable than that given to comparable services and service providers in another country. The GATS allows countries to maintain measures inconsistent with this principle of the MFN, provided that these measures are included in the GATS schedule to the Exemptions under Article II (MFN) and fulfill them. [Link to this appendix] More than 70 signatories were granted exceptions. In principle, these exemptions should not apply beyond 2004. . The Uruguay Round Agricultural Agreement remains the most important agreement in the history of trade negotiations for the liberalisation of agricultural trade. The aim of the agreement was to improve market access for agricultural products, reduce national aid to agriculture in the form of price-distorting subsidies and quotas, eliminate agricultural export subsidies over time and harmonize health and plant health measures among Member States as much as possible. The GATT had three main provisions. The most important requirement was that each member be obliged to confer the status of the most favoured country on any other member. All members must be treated the same with respect to tariffs.

It excluded special tariffs between members of the British Commonwealth and the Customs Union. It allowed tariffs if their removal causes serious damage to domestic producers. The assertion that Article 24 could be used in this way has been criticized as unrealistic by Mark Carney, Liam Fox and others, as point 5c of the contract requires an agreement between the parties so that Article 5b can be useful, since there would be no agreement in the case of a non-agreement scenario. In addition, critics of the GATT 24 approach point out that services would not fall under such regulation. [28] [29] The table of topics for the outcomes of the multilateral trade negotiations of the Uruguay Round: the legal texts are a frightening list of some 60 agreements, annexes, decisions and agreements. In fact, the agreements fall under a simple structure of six main parties: a framework agreement (the WTO agreement); Agreements for each of the three major trade sectors covered by the WTO (goods, services and intellectual property); Dispute resolution and reviews of government trade policy.