WTOavtalet

The WTO Agreement, officially known as the Marrakesh Agreement Establishing the World Trade Organization, is the foundational legal document of the World Trade Organization. It was signed in Marrakesh, Morocco, on April 15, 1994, and entered into force on January 1, 1995. The agreement integrates the results of the Uruguay Round of multilateral trade negotiations, which lasted from 1986 to 1994. It encompasses a broad range of trade-related areas, aiming to create a more predictable and open global trading system.

Key components of the WTO Agreement include the General Agreement on Tariffs and Trade (GATT 1994), the General Agreement on Trade in Services (GATS), and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). It also established the dispute settlement system, a crucial mechanism for resolving trade disputes between member countries. The agreement sets out the principles of non-discrimination, most-favored-nation treatment, and national treatment, guiding trade relations among its over 160 member economies. The WTO Agreement aims to promote free and fair trade, contributing to economic growth and development worldwide by reducing trade barriers and establishing clear rules for international commerce.