The Fascinating World of GATT Contracting Parties

As a law enthusiast, I have always been captivated by the intricate web of international trade agreements and the legal framework that governs them. One of the most fascinating aspects of this field is the General Agreement on Tariffs and Trade (GATT) contracting parties.

GATT, which was signed in 1947, is a multilateral agreement regulating international trade. It was the first worldwide multilateral free trade agreement and aimed to promote trade by reducing or eliminating trade barriers such as tariffs or quotas. Contracting parties GATT countries signatories agreement bound provisions.

Understanding GATT Contracting Parties

With over 120 contracting parties over the years, GATT has played a crucial role in shaping the global trade landscape. The contracting parties have engaged in numerous rounds of negotiations to lower trade barriers and promote fair and equitable trade practices.

Here fascinating facts GATT contracting parties:

Year	Number Contracting Parties
1947	23
1960	48
1980	92
1994	124

It is evident that the number of GATT contracting parties has significantly increased over the years, demonstrating the growing relevance of international trade agreements in the global economy.

Case Studies

Let`s take a look at a couple of case studies to understand the impact of GATT contracting parties on international trade.

Case Study 1: Uruguay Round

The Uruguay Round of GATT negotiations, which took place from 1986 to 1994, marked a watershed moment in international trade. The contracting parties successfully negotiated the creation of the World Trade Organization (WTO) and significantly expanded the scope of GATT to include services, intellectual property, and agriculture.

Case Study 2: China`s Accession GATT

China`s accession to GATT in 1986 had a profound impact on its economy and global trade. As a GATT contracting party, China committed to opening up its market and implementing trade liberalization measures, leading to its rapid integration into the global economy.

The world of GATT contracting parties is a captivating realm that continues to shape the dynamics of international trade. As we navigate the complexities of global commerce, it is imperative to appreciate the role of these contracting parties in promoting a more open, fair, and inclusive global trading system.

Top 10 Legal Questions about GATT Contracting Parties

Question	Answer
1. What is the General Agreement on Tariffs and Trade (GATT)?	GATT is a legal agreement between many countries whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.
2. Who are the contracting parties to GATT?	Contracting parties GATT countries signed agreed terms agreement, its peak, included over 100 countries.
3. What rights and obligations do GATT contracting parties have?	GATT contracting parties right engage trade agreed terms, they also obligation abide rules regulations set forth agreement.
4. Can a GATT contracting party unilaterally withdraw from the agreement?	Yes, a GATT contracting party can withdraw from the agreement, but they must follow the proper procedures and give notice to the other parties before doing so.
5. What happens if a GATT contracting party violates the terms of the agreement?	If a GATT contracting party violates the terms of the agreement, other parties may file a complaint and seek resolution through GATT`s dispute settlement mechanisms.
6. Can non-sovereign entities become contracting parties to GATT?	No, only sovereign states have the capacity to become contracting parties to GATT, as it is an agreement between nations.
7. How does GATT address intellectual property rights among contracting parties?	While GATT primarily focuses on trade in goods, it does have provisions related to intellectual property rights, but these were expanded upon in the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) under the World Trade Organization (WTO).
8. Can GATT contracting parties enter into regional trade agreements with each other?	Yes, GATT allows for contracting parties to enter into regional trade agreements, as long as they comply with the provisions set forth in the agreement, such as non-discrimination and most-favored-nation treatment.
9. How does GATT address environmental protection and trade among contracting parties?	GATT does have provisions that allow for trade restrictions to be imposed for the protection of human, animal, or plant life or health, but it also aims to minimize unnecessary barriers to trade in order to promote economic growth and development.
10. What is the relationship between GATT and the World Trade Organization (WTO) in terms of contracting parties?	GATT eventually evolved into the WTO in 1995, and the WTO`s agreements, including GATT, govern the trade relations between contracting parties under the organization`s framework.

Contract for GATT Contracting Parties

This contract is entered into on this day __________, 20__, by and between the GATT contracting parties, hereinafter referred to as “Parties”.

Whereas the Parties are members of the General Agreement on Tariffs and Trade (GATT) and are desirous of entering into a contract to govern their rights and obligations as contracting parties;

Now, therefore, in consideration of the mutual covenants and agreements contained herein, the Parties hereby agree as follows:

Article I	Definition
Article II	Membership Obligations
Article III	Trade Relations
Article IV	Dispute Resolution
Article V	Amendments

This contract shall be governed by and construed in accordance with the laws of the GATT and any disputes arising out of or in connection with this contract shall be resolved in accordance with the dispute resolution mechanisms set forth in the GATT.

IN WITNESS WHEREOF, the Parties have caused this contract to be duly executed on the date first above written.