Common Contracts
1 similar General Agreement on Tariffs and Trade (Gatt) contracts
General Agreement on Tariffs and Trade 1317General Agreement on Tariffs and Trade (Gatt) • February 28th, 2008
The United Nations Conference on Trade and Employment, held at Havana, Cuba, between November 1947 and March 1948, drew up a char- ter for an International Trade Organization (ITO) and established an Interim Commission for the In- ternational Trade Organization (ICITO). Since the charter itself was never accepted, ITO was not es- tablished. However, while drawing up the char- ter, the Preparatory Committee’s members negotiated on tariffs among themselves, and also drew up the General Agreement on Tariffs and Trade (GATT). The Agreement-a multilateral treaty embodying reciprocal rights and obligations-is the only multilateral instrument that lays down agreed rules for international trade. It entered into force on 1 January 1948 with 23 contracting parties. Since then, ICITO has provided the GATT secretariat.
