EVOLUTION OF INTERNATIONAL TRADE WITH SPECIAL REFERENCE TO WTO, GATT ,GATS


Mitra Shahsavani
,
Abstract

Nowadays a large number of trade agreements exists in the world and it is just not possible to examine each of these agreements and hence it makes it necessary to take examine only samples of the trade agreements and study the relationship among them.

 Prior to 1994, no multilateral or international organization dealt with the trade issues between the countries. For more than fifty years the international trading system functioned without an organization under the guidance of General Agreement on Tariffs and Trade for which the rules had been developed and respected. Prior to the establishment of the World Trade Organization (WTO), international regulation, trade was fundamentally structured within the General Agreement of Tariff and Trade (GATT) . Looking back to the evolution of international regulations of international trade and the institutional structures in the early nineteenth century free trade and less protectionism was witnessed but by the end of the nineteenth century most of the independent countries had moved from free trade to protectionist policies. The twentieth century witnessed developments in the international economic relations which led to the evolution of concepts, precepts and doctrines which were unique. This was not only to achieve order in international economic and trading relations but also in the establishments of international institutions.  WTO, is one of the many agreements in the governance of international trading system which deals with international trading systems in several ways and plays the most important role which make it significant for WTO to maintain smooth and supportive relationship with other agreements. This paper provides a brief orientation or topography of GATT / WTO ( the heart of the multilateral world trading regime), GATS as international background of trade through different international trade agreements. The objective of this article is to analysis the legal relationship between different trade agreement and to analysis the reasons for replacing of each agreement instead of other agreement.      

KEY WORDS: WTO,GATT.GATS.RELATIONSHIP.TRADE

Keywords:
Journal Name :
EPRA International Journal of Economic and Business Review(JEBR)

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Vol : 5
Issue : 2
Month : February
Year : 2017
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