For the first time, the GATT has addressed agricultural trade policies in a comprehensive manner. Although only eight Arab countries are currently members of the GATT,1 the Uruguay Round agreement will have important repercussions for the whole region. The agreement will affect world prices and the direction and volume of world trade. The impact on Arab countries will depend on their export and import structures, their trade links, and the composition of their economic activities.
International Monetary Fund Copyright © 2010-2025. All Rights Reserved.