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Meaning / Definition of
General Agreement On Tariffs And Trade
Categories: Global, Economics, International Trade,
a treaty signed in Geneva in 1947 that aimed to foster multilateral trade and settle trading disputes between adherent countries. Initially signed by 23 nations, it started to reduce trade tariffs and, as it was accepted by more and more countries, tackled other barriers to trade. It was replaced on January 1, 1995 by the world trade organization.
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