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NATIONAL ECONOMy AND PATRIMONY Three fold goals of the national economy: -Equity, a more e听quitable distrib听ution of opportunities, income and wealth -Growth, a su听stained increase in the amou听nt of goods and services produ听ced by a nation for the benefit of the people -Produ听ctivity, capacity or degree of effectiveness for making greater ou听tpu听t ou听t of every unit of inp听ut employed

听 World Trade Organization 听( WTO ) an organization that intends to supervise and liberize international Trade. officially commenced on January 1, 1995 under the听Marrakech Agreement, replacing the听General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their听parliaments.听

General Agreement Tariffs and Trade (GATT). Treaty听organization affiliated with the听United Nations whose purpose was to facilitate听international Trade. The primary听 actions听of the organization were to freeze and reduce tariff levels on various听 commodities. created in 1947. originally intended to become a part of the International Trade Organization (ITO); however, the ITO failed to be created, so the GATT was听left听as an independent organization. In 1994, GATT was superseded by the听WTO.

The World Trade Organization (WTO) is an international organization intended to reduce trade barriers, formed in 1995. Wto and gatt The General Agreement on Trade and Tariffs (GATT) is the international treaty which preceded the WTO's formation; it began in 1947.听 The 'Uruguay Round' was the most recently completed round of GATT negotiations, completed in 1994. Negotiations to start a new 'Round' took place in Seattle in Dec. 1999, but were disrupted by riots.

WTO members (which includes the US and most industrialized countries) grant each other 'MFN' or Most Favored Nation status, which means minimal import tariffs. 听 The Philippine government is also not a beneficiary, except to the extent that Filipinos get to buy cheaper chickens and export their own goods more readily abroad. In fact, in the short term, the Philippine government loses out because they no longer receive import fees on chickens. That's why GATT was hard to get countries to sign on to -- because governments had to look at the longer term.听

by the time of the Uruguay round, many countries considered the exception of agriculture to be sufficiently glaring that they refused to sign a new deal without some movement on agricultural products. countries known as the "Cairns Group", continues to be the most substantial trade liberalization agreement in agricultural products in the history of trade negotiations. The goals of the agreement were to improve market access for agricultural products, reduce domestic support of agriculture in the form of price-distorting听subsidies听and quotas, eliminate over time export subsidies on agricultural products and to harmonize to the extent possible sanitary and phytosanitary measures between member countries.

Uruguay Round - 1986-1994. 听 Uruguay Round听began in 1986. It was the most ambitious round to date, hoping to expand the competence of the GATT to important new areas such as听services,听capital,听intellectual property,听textiles, and听agriculture. 123 countries took part in the round. It听was also the first set of multilateral trade negotiations in which developing countries had played an active role. Agriculture was essentially exempted from previous agreements as it was given special status in the areas of import quotas and export subsidies, with only mild caveats.

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Meljean I. Esto

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