j$k5309051j$k

General Agreement on Tariffs and Trade, also known as GATT, was a multilateral agreement aimed at regulating international trade. It was first signed in 1947 in Geneva, Switzerland, to reduce trade barriers and promote free trade among member countries. GATT was replaced by the World Trade Organization (WTO) in 1995, which continues to build upon the principles of GATT.

In French, GATT is known as the “Accord Général sur les Tarifs Douaniers et le Commerce” or “AGTC.” The agreement was signed by 23 countries, including France, and aimed to reduce tariffs on goods traded between member countries. Over time, additional rounds of negotiations were held, resulting in further reductions in tariffs and the inclusion of new areas, such as services and intellectual property.

The most significant achievement of GATT was the reduction of tariffs. Tariffs are taxes governments place on imported goods to protect domestic industries. While tariffs may be intended to help local businesses, they often result in higher prices for consumers and reduced competition, leading to economic inefficiency. GATT`s reduction of tariffs allowed for increased trade between member countries, resulting in lower prices and more choices for consumers.

In addition to reducing tariffs, GATT also established a mechanism for resolving disputes between member countries. This mechanism was designed to promote peaceful resolution of trade-related conflicts that could arise between nations. The dispute resolution process included consultations between the countries involved, followed by a panel of experts ruling on the case, with the possibility of appeal to a higher court.

GATT also included provisions for non-discrimination, meaning that member countries could not discriminate against goods or services from other member countries. This principle was meant to encourage fair competition and prevent protectionist policies that could harm trade.

In conclusion, GATT was an essential agreement that helped to open up international trade and promote economic growth. While it has been replaced by the WTO, many of its principles and achievements continue to shape global trade today. As a French speaker, you can refer to GATT as AGTC and appreciate its contributions to modern trade and commerce.