which of the following issues did the uruguay round not addressed? ( migroaion (2) intellectual property rights services (4) tariff. The correct answer is (1) Migration. Apart from this, all other themes were covered in Uruguay round of the WTO multilateral trade negotiations.
What was a result of the Uruguay Round?
The Uruguay Round reduced tariffs by 40 percent for developed countries on about $787 billion worth of trade in industrial goods. … Finally, developed countries increased the level of bound tariffs from 94 percent of all goods to 99 percent of all goods.
What was the major provisions of the Uruguay Round?
The key features of the Uruguay Round Final Settlement are: An agreement on agriculture to increase market access, reduce export subsidies and tariffs and eliminate non-tariff barriers. An agreement on textiles that emphasizes in particular the phased removal of quota restrictions.
What other agreements resulted following the Uruguay Round negotiations?
The Uruguay Round of the GATT resulted in numerous new trade-liberalizing agreements among member countries, including the General Agreement on Trade in Services (GATS), the Agreement on Agriculture, the Agreement on Textiles and Clothing (ATC), and the Agreement on Trade-Related Aspects of Intellectual Property Rights …
What is meant by Uruguay Round?
The Uruguay Round is the eighth round of multilateral trade negotiations conducted within the framework of the General Agreement on Tariffs and Trade (GATT).
What was the result of the Uruguay Round quizlet?
The Uruguay Round extended GATT to cover services as well as manufactured goods. One result of the Uruguay Round was the creation of the United Nations. The lowering of trade and investment barriers allows firms to base production at the optimal location for that activity.
Why is the Uruguay Round important?
The main objectives of the Uruguay Round were: to reduce agricultural subsidies. to lift restrictions on foreign investment. to begin the process of opening trade in services like banking and insurance.
Is GATT and WTO same?
On 1 January 1995, the WTO replaced GATT, which had been in existence since 1947, as the organization overseeing the multilateral trading system. The governments that had signed GATT were officially known as “GATT contracting parties”.
What is the final act of Uruguay Round Agreement?
“The Final Act Embodying the Results of the Uruguay Round of Multilateral Trade Negotiations”, signed by ministers in Marrakesh on 15 April 1994 is 550 pages long and contains legal texts which spell out the results of the negotiations since the Round was launched in Punta del Este, Uruguay, in September 1986.
Why was GATT replaced?
It replaced the GATT on 1 January 1995. The GATT was focused on trade in goods. It aimed to liberalize trade by reducing tariffs and removing quotas among member countries. Each member of the GATT was expected to open its markets equally to other member nations, removing trade discrimination.
What was not accomplished in the Uruguay Round but later negotiated by the WTO?
What was NOT accomplished in the Uruguay Round, but later negotiated by the WTO? Subsidies; TRIP revised and market access.
Is the GATT still active?
GATT, the international agency, no longer exists. It has now been replaced by the World Trade Organization.