A provision of the General Agreement on Tariffs and Trade Treaty (GATT)
Answers
The main provision of the General Agreement on Tariffs and Trade (GATT) is to eliminate trade barriers, which hamper international trade between countries. The main barriers to trade are tariffs and quotas, introduced by certain countries, favouring other specific countries.
GATT came into existence in 1947 at Geneva and currently has 159 countries as its members. The last round of talks started in 2001 at the Doha convention and is yet to be closed.
General Agreement on Tariffs and Trade or you can say GAAT is a legal agreement which was made between different countries to increase international trade by removing the tarrifs and quotas.
It was first signed in October 1947 by 23 countries in Geneva city.
It was formed after The completion of World War II.