Suchergebnisse

In every country, the WTO rules should be viewed from two perspectives: (1) They are used to facilitate access to other countries' markets. (2) The mechanisms for the protection of a country's economy (which make up the bulk of the WTO regulations) are used for the justified & unjustified protection of a country's economy. The author analyzes GATT's basic norms & the Uruguay round of multilateral trade negotiations, with focus on the sector-accommodation policy, using financial services as an illustration. The creation of the WTO disposed of some shortcomings noticeable in GATT, eg, the temporary character of the regulations, the stable & predictable set of obstacles at the borders, & the objective procedures for dispute resolution. To implement the Uruguay session, which includes the GATT, all WTO member states are obliged to adopt its multilateral discipline & rules & bring their national regulations in line with the accepted obligations. The author concludes that the outcomes of the Uruguay session enhanced the role of world trade as a dynamizing factor of the growth of the world economy. 1 Table, 11 References. Adapted from the source document.