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Said El-Nagger

Abstract

On April 15, 1994 at Marrakesh, Morocco, more than one hundred countries signed the Final Act of the Uruguay Round. This marked the conclusion of a complex and protracted process of negotiations that began in September 1986 with the Punta del Este Declaration. The Uruguay Round was the eighth round of multilateral trade negotiations conducted within the framework of the General Agreement on Tariffs and Trade (GATT). Since its establishment in 1947, the GATT endeavored to achieve three principal objectives:

Jesus Seade

Abstract

This chapter describes the principal results of the GATT’s eighth round of negotiations, launched in Punta del Este, Uruguay, in September 1986, and concluded in Marrakesh, Morocco, in April 1994- The World Trade Organization (WTO), the principal result of the Uruguay Round, enters into force on January 1, 1995 and replaces the GATT as the basis for trade relations among its members. After an overview of the GATT system and a brief summary of changes in the framework for trade relations contained in the Uruguay Round agreements, the chapter concludes with a description of the steps a country must take to become a WTO member.

Paul Chabrier, Mohamed A. El-Erian, and Rakia Moalla-Fetini

Abstract

The Uruguay Round has been heralded by many as constituting a major advance in the process of multilateral liberalization of trade in goods and services and in strengthening the supporting institutional base. By seeking to bring in the old but contentious issues of trade in agriculture and in textiles under comprehensive GATT discipline, as well as to expand GATT discipline to some new areas, the Uruguay Round has been regarded by many as the most ambitious of all GATT negotiating rounds. If fully implemented, the Uruguay Round agreements are expected to enhance welfare-increasing trade and to contribute to world economic growth.

Jamal Zarrouk

Abstract

The conclusion of the Uruguay Round negotiations on December 15, 1993 marked a significant event for developing countries, including Arab countries. First, negotiations resulted in firm commitments made by as many as 124 nation participants from both developing and industrial countries to reduce tariffs and nontariff measures substantially, and to reduce both nontariff support in agriculture and barriers to trade in services. These trade-liberalizing measures will improve access to developed markets, which is important for countries that have implemented macroeconomic and structural policy reforms aimed to increase efficient resource allocation.

Ian Goldin and Mylène Kherallah

Abstract

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.

Ms. Naheed Kirmani, Rupa Chanda, and Mr. Clinton R. Shiells

Abstract

Textiles and clothing occupy an important position in the world economy. They contribute significantly to manufacturing production, employment, and trade. World trade (as measured by exports) in textiles and clothing was worth nearly $187 billion in 1992, some 7 percent of world merchandise exports (Table 1).

Bernard Hoekman and Carlos A. Primo Braga

Abstract

In September 1986, governments embarked on the longest and most ambitious multilateral trade negotiations held under the auspices of the GATT. They concluded the negotiations on April 15, 1994 with the signing of the Final Act of the Uruguay Round in Morocco. More than the end of a journey, however, the Marrakesh ceremony ushered in the beginning of a new era in international trade rules and the birth of the World Trade Organization (WTO).

International Monetary Fund. External Relations Dept.
This paper highlights that the first quarter of 1981 was marked by a number of notable accomplishments in meeting the challenges currently facing the IMF. In addition to the completion of the final loan disbursements from the Trust Fund, the simplification of the SDR basket, and the decision to continue enlarged access to the IMF’s resources, the IMF reached agreement in principle with Saudi Arabia on a quota increase and on an arrangement to borrow resources to permit the IMF to continue its lending operations without interruption and for the smooth functioning of the recycling process.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.