The Final Act of the Uruguay Round and the Marrakesh Agreement
establishing the World Trade Organization (the WTO Agreement) were
signed on April 15, 1994. The WTO supersedes the General Agreement
on Tariffs and Trade (GATT), which was established in 1947 as the
umbrella organization for international trade. At the heart of the
WTO are the numerous agreements negotiated and signed by members
during the Uruguay Round. These agreements cover trade in goods and
services, as well as trade-related aspects of intellectual property
rights. All have some relevance to agricultural trade, and
supporting material on a number of them is available in this
briefing room.
There are also four plurilateral agreements (not binding on all
WTO members):
- Agreement on Trade in Civil Aircraft
- Agreement on Government Procurement
- International Dairy Agreement
- International Bovine Meat Agreement
Dispute Settlement
The WTO Agreement also created a
Dispute Settlement Body within the WTO to resolve disputes
among WTO members, and it established a system for regular review
of national trade policies and international trade trends.
WTO Accession
Any state or customs territory having full autonomy in the
conduct of its trade policies may become a WTO member subject to
negotiations guided by a working party of WTO members. At the
conclusion of the Uruguay Round, there were 124 WTO members. China
completed accession negotiations and became a WTO member in
December 2001, Taiwan in January 2002, and Viet Nam in January
2007. Tonga is the WTO's 151st member, joining in July 2007. Russia
and Ukraine are among over two dozen countries currently
negotiating to join the WTO (see WTO's web page on accessions). The lengthy accession process
involves extensive review of the applicant's trade policies and
laws to ensure conformity with WTO rules. WTO membership should
facilitate more transparent and rules-based trade regimes in these
countries.