The General Agreement on Tariffs and Trade is a watchword for a series of global trade negotiations that took place in nine rounds in total between 1947 and 1995. GATT was first conceived after the Allied victory in World War II at the United Nations Conference on Trade and Employment (UNCTAD) in 1947, where the International Trade Organization (ITO) was one of the ideas proposed. It was hoped that the ITO would be managed alongside the World Bank and the International Monetary Fund (IMF). More than 50 nations negotiated and organized their founding charter, but after the U.S. withdrew, those negotiations collapsed. [8] The Doha Development Round began in 2001. The Doha Round began in 2001 with a ministerial meeting in Doha, Qatar. The objective was to focus on the needs of developing countries. Among the main factors discussed are trade facilitation, services, rules of origin and dispute settlement. Special and differential treatment of developing countries was also discussed as a major concern. Ministerial meetings were then held in CancĂșn, Mexico (2003) and Hong Kong (2005). Negotiations were held in Paris, France (2005), Potsdam, Germany (2007) and Geneva, Switzerland (2004, 2006, 2008).

Progress in the negotiations was bogged down after the failure of the negotiations in July 2008. [17] [18] This series of meetings and reduced tariffs would continue and impose new GATT provisions in the process. The average rate of duty rose from about 22% when GATT was first signed in Geneva in 1947, to about 5% at the end of the Uruguay Round, which ended in 1993 and also negotiated the creation of the WTO. It entered into force on 1 January 1948. [12] [8] The fourth round returned to Geneva in 1955 and lasted until May 1956. Twenty-six countries participated in the round. Tariffs of $2.5 billion have been abolished or reduced. The Uruguay Round began in 1986. This was the most ambitious round to date, starting in 1986, in which GATT competences were to be extended to important new areas such as services, capital, intellectual property, textiles and agriculture. 123 countries participated in the round. The Uruguay Round was also the first round of multilateral trade negotiations in which developing countries played an active role.

[16] Well before the end of the round, it became clear that, well before the end of the round, a more comprehensive approach was needed to address the emerging challenges related to the formation of the European Economic Community (EEC) and EFTA, as well as to Europe`s renaissance as an important international trader in general. GATT was first discussed at the United Nations Conference on Trade and Employment and was the result of the failure of negotiating governments in the creation of the International Trade Organisation (ITO). .