WTO (World Trade Organization) and Multilateral Trade Rules

Author: Liu Debiao Xue Shulan
Publisher:
Publish Date: 2000-05-01
Features: The General Agreement on Tariffs and Trade (GATT) had been unable to meet the needs of international economic and trade development since its "provisional implementation" in 1947 until the early 1990s. The General Agreement on Tariffs and Trade (GATT) temporarily took over the functions of the International Trade Organization until 1994, completing its historical mission. Due to the acceleration of global economic integration, the economic and trade ties between countries have become increasingly close. To achieve a common and orderly economic development, it is necessary to establish a set of international rules that reflect the realities of the world's economic and trade situation and are jointly followed by all countries to regulate the economic and trade behavior of nations, ensure fair competition in international economic and trade activities, and thus promote the development of global trade and high-speed economic growth. The World Trade Organization and the multilateral trade rules it formulated came into being against this historical background.