GATT

GATT

GATT stands for General Agreement On Tariffs and Trade. This organization was established on January 1, 1948. The purpose of the founding of this organization is to seek balance of trade and world market prices. Headquarters of this organization was in Geneve, Switzerland.

GATT began to be negotiated since 1947 and entered into force by the first 23 countries - all signed on the 1st of January 1948.

GATT is a multilateral treaty whose main goal is to free up world trade of various factors that might slow him down, and place it on a solid foundation, so it can grow and develop the economy and welfare of the nation - the nation in the world.