Gave rise to only bilateral negotiations

2. A General Agreement on Tariffs and Trade (GA TT) was the largest international forum which regulated

The world trade. It was signed in 1947 on the US initiative. What cardinal principles was

GATT based on?

a) There were three of them: (1) equal, nondiscriminatory treatment for all member nations:

(2) tough measures on restricting foreign investments; (3) removing barriers to trade and

Subsidies in agriculture.

b) There were three of them: (1) equal, nondiscriminatory treatment for all member nations;

(2) the reduction of tariffs by multilateral negotiations; (3) the elimination of

Import quotas.

c) There were three of them: (1) equal, nondiscriminatory treatment for all member nations;

(2) removing barriers to trade in services; (3) reciprocity (взаимность) in offering trade and

Industry concessions.

3. The Uruguay round of negotiations (1986—1994) was the last one in the history of GATT. The

Decisions made at this round were of great significance. In the long run they led to expansion of

competence of this international forum. What problems were considered at this round?

A) Eliminating trade barriers and domestic subsidies in agriculture; removing barriers to trade

In services; ending restrictions on foreign economic investments; establishing and enforcing