Uruguay Round
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[edit | edit source]
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[edit | edit source]
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[edit | edit source]
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[edit | edit source]
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[edit | edit source]
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[edit | edit source]
- 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
References[edit | edit source]
External Links[edit | edit source]
Search WikiMD
Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro / Zepbound) available.
Advertise on WikiMD
WikiMD's Wellness Encyclopedia |
Let Food Be Thy Medicine Medicine Thy Food - Hippocrates |
Translate this page: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
தமிழ்,
తెలుగు,
Urdu,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
বাংলা
European
español,
Deutsch,
français,
Greek,
português do Brasil,
polski,
română,
русский,
Nederlands,
norsk,
svenska,
suomi,
Italian
Middle Eastern & African
عربى,
Turkish,
Persian,
Hebrew,
Afrikaans,
isiZulu,
Kiswahili,
Other
Bulgarian,
Hungarian,
Czech,
Swedish,
മലയാളം,
मराठी,
ਪੰਜਾਬੀ,
ગુજરાતી,
Portuguese,
Ukrainian
Medical Disclaimer: WikiMD is not a substitute for professional medical advice. The information on WikiMD is provided as an information resource only, may be incorrect, outdated or misleading, and is not to be used or relied on for any diagnostic or treatment purposes. Please consult your health care provider before making any healthcare decisions or for guidance about a specific medical condition. WikiMD expressly disclaims responsibility, and shall have no liability, for any damages, loss, injury, or liability whatsoever suffered as a result of your reliance on the information contained in this site. By visiting this site you agree to the foregoing terms and conditions, which may from time to time be changed or supplemented by WikiMD. If you do not agree to the foregoing terms and conditions, you should not enter or use this site. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD