Uruguay Round

File:History-Images-1994-WTO.jpg

History-Images-1994-WTO

The Uruguay Round was the 8th round of multilateral trade negotiations conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994. It was the most comprehensive and ambitious round of trade negotiations, aiming to extend the reach of the GATT to new areas such as services, intellectual property, and agriculture.

Background

The Uruguay Round was launched in September 1986 in Punta del Este, Uruguay, hence its name. The negotiations were driven by the need to address the limitations of the previous Tokyo Round and to adapt the global trading system to the changing economic landscape.

Objectives

The primary objectives of the Uruguay Round were to:

• Reduce tariffs and other trade barriers.
• Expand the scope of the GATT to include services, intellectual property, and agriculture.
• Strengthen the dispute resolution mechanism.
• Establish a more comprehensive and enforceable set of trade rules.

Key Agreements

The Uruguay Round resulted in several key agreements, including:

• The establishment of the World Trade Organization (WTO) to replace the GATT.
• The Agreement on Agriculture, which aimed to reduce agricultural subsidies and protectionism.
• The General Agreement on Trade in Services (GATS), which extended trade rules to the service sector.
• The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which set minimum standards for the protection of intellectual property.
• The Agreement on Textiles and Clothing (ATC), which aimed to phase out the Multi-Fibre Arrangement (MFA) and integrate the textile sector into the GATT framework.

Impact

The Uruguay Round had a significant impact on the global trading system. It led to the creation of the WTO, which provided a more robust and enforceable framework for international trade. The agreements reached during the Uruguay Round also contributed to the liberalization of trade in goods and services, the protection of intellectual property, and the reduction of agricultural subsidies.

Criticisms

Despite its achievements, the Uruguay Round faced criticism from various quarters. Developing countries argued that the agreements disproportionately favored developed nations and that the implementation of the agreements imposed significant costs on their economies. Additionally, some critics contended that the liberalization of trade in agriculture and services led to adverse social and economic impacts in certain regions.

Related Pages

• General Agreement on Tariffs and Trade
• World Trade Organization
• Tokyo Round
• Agreement on Agriculture
• General Agreement on Trade in Services
• Agreement on Trade-Related Aspects of Intellectual Property Rights
• Agreement on Textiles and Clothing