Question

The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and
quotas is:
टैरिफ, सब्सिडी और कोटा को नष्ट या घटाकर व्यापार को उदारीकरण के उद्देश्य से सबसे लंबे समय तक चलने वाला व्यापार समझौता है:
Select one:
O A. European community - EC
यूरोपीय समुदाय - EC
N
O B. Free trade area – FTA
नि: शुल्क व्यापार क्षेत्र - एफटीए (FTA)
O C. General agreement on tariffs and trade - GATT
शुल्कों और व्यापार पर सामान्य समझौता - GATT
O D. The North American free trade agreement - NAFTA
उत्तर अमेरिकी मुक्त व्यापार समझौता - नाफ्टा (NAFTA)​

Answer 1

Answer:

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Answer 2

The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is option C. General agreement on tariffs and trade - GATT.

General agreement on tariffs and trade - GATT:

• After being approved on October 30, 1947, the General Agreement on Tariffs and Trade (GATT) was a treaty that eliminated or lowered tariffs, quotas, and other trade barriers while maintaining other crucial regulations.
• The GATT was created with the goal of speeding up the post-World War II economic recovery through the liberalisation and restructuring of global commerce.
• The General Agreement on Tariffs and Trade (GATT), which was ratified by 23 countries after World War II, took effect on January 1, 1948.
• To promote international trade, the General Agreement on Tariffs and Trade (GATT) was created.
• The General Agreement on Tariffs and Trade (GATT) held eight rounds between April 1947 and December 1993, each of which resulted in notable accomplishments and outcomes.
• After absorbing it in 1995, the General Agreement on Tariffs and Trade (GATT) was extended by the World Trade Organization (WTO).

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