General Agreement on Tariff and Trade
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General Agreement on Tariff and Trade (GATT) is an international agreement instituted by the World Trade Organization. Originating in 1947,[1] its aim is to increase world trade[2] by lowering tariffs, and banning prohibitions or restrictions on the export of commodities. These bans can be temporarily repealed in certain circumstances.[3]
References
- ↑ 'The General Agreement of Tariffs and Trade'
- ↑ World Trade Organization A Summary of the Final Act of the Uruguay Round; (n.d.)
- ↑ Blas, J. Tackle export bans to ease food crisis; Financial Times (February 3, 2011)