G.A.T.T. seeks to liberalize world trade. When the General Agreement on Tariffs and Trade was concluded by 23 counties in 1947, it was considered a temporary arrangement before the establishment of the United Nations. On 1 January, 1948 the agreement was signed by 23 countries: Australia, Belgium, Brazil, Burma, Canada, Ceylon, Chile, China, Cuba, the Czechoslovak Republic, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, the United Kingdom, and the United States. GATT, which facilitated trade without discrimination or obstacles, was replaced by the World Trade Organization in 1995.
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Citation: Richert, Lucas Paul. "General Agreements on Tariffs and Trades signed". The Literary Encyclopedia. First published 01 October 2008 [https://staging.litencyc.com/php/stopics.php?rec=true&UID=3180, accessed 26 November 2024.]