yleissopimusta

Yleissopimus, in Finnish, translates to "General Agreement" and often refers to the General Agreement on Tariffs and Trade (GATT). This was a multilateral agreement regulating international trade, signed in 1947 and in effect from 1948 until 1995. The GATT's primary purpose was to reduce barriers to trade, such as tariffs and quotas, thereby promoting free trade among its member nations.

The GATT was a set of rules governing trade in goods, and it was negotiated in rounds. Over time, these negotiations led to significant reductions in tariffs worldwide. It was instrumental in the post-World War II economic reconstruction and expansion of global commerce. The GATT provided a framework for resolving trade disputes between countries and established principles like most-favored-nation treatment, meaning that all member countries received the same trade privileges.

In 1995, the GATT was superseded by the World Trade Organization (WTO). While the WTO has a broader scope, encompassing services and intellectual property, it inherited many of the GATT's principles and agreements. Therefore, when discussing Yleissopimus in a historical or trade context, it is almost always referring to the foundational principles established by the GATT. The legacy of the GATT continues to influence the structure and functioning of international trade today.