GATT
Organizations & Companies abbreviation · International Organization
| Stands for | General Agreement on Tariffs and Trade |
|---|---|
| Categories | Organizations & Companies |
GATT stands for General Agreement on Tariffs and Trade, an international organization abbreviation.
Multilateral trade agreement signed in 1947 that reduced tariffs and other trade barriers through successive negotiating rounds and governed world trade until the World Trade Organization was created in 1995.
Example: Under GATT rules, countries must extend most-favored-nation treatment to other members.
Usage notes
Twenty-three countries signed the original agreement. The Uruguay Round of 1986 to 1994 produced the WTO, and an updated version, GATT 1994, remains one of the WTO's core agreements. Its principles of nondiscrimination and tariff binding still underpin trade law.
Related abbreviations
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- FVEY – Five Eyes
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- G7 – Group of Seven
- G77 – Group of 77
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- IAEA – International Atomic Energy Agency
- IBRD – International Bank for Reconstruction and Development
- ICAO – International Civil Aviation Organization
- ICC – International Criminal Court
- ICJ – International Court of Justice