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Published by birubiru

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Published by: birubiru on Nov 10, 2011
Copyright:Attribution Non-commercial


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5/1/2012 1
International Economic Institutions
Professor Narasimhan
5/1/2012 2
General Agreement onTariffs andTrade (GATT)
In 1946, the newly-created Economic and SocialCouncil of the United Nations called a conference toconsider the creation of the International TradeOrganization (ITO) which was envisaged as the final legof a triad of post-War economic agencies (the other twowere the International Monetary Fund and theInternational Bank for Reconstruction and Development-later the World Bank). A preparatory committee wasestablished to draft the ITO charter.
5/1/2012 3
The committee worked on the draft charter.However, independent of this official task under the UN mandate, the committee membersconducted tariff-cutting negotiations amongthemselves in advance of the ITO. Thesenegotiations resulted in about 45,000 tariff concessions affecting some US$ 10 billion of world trade

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