Writing Resources
Issues Motivated For Choosing This Topic General Agreement on Tariffs and Trade GATT was a legal agreement between many countries whose overall purpose was to promote international trade by decreasing or eliminating trade barriers such as tariffs or quotas GATT was signed by 23 nations in Geneva on October 30 1947 and the GATT officially took effect on January 1 1948 It remained in effect till the time it was signed by 123 nations in Marrakesh on April 14 1994 of the Uruguay Round Agreements which established the World Trade Organization WTO on January 1 1995 The WTO was the successor of GATT and the original GATT text GATT 1947 is still in effect under the WTO framework subject to the modifications of GATT 1994 The Norwegian economy is a developed mixed economy with state ownership in strategic areas Although it is sensitive to global business cycles the economy of Norway has shown a solid growth since the start of the industrial era The country has a very high standard of living as compared with other European countries and a strongly integrated welfare system NORWAY IMPLEMENTS TRADE REFORMS AND STRENGTHENS ITS COMMITMENT TO THE MULTILATERAL TRADING SYSTEM Norway has been a member of GATT since 10 July 1948 and also a member of WTO since 01st January 1995 Instigated both by its membership in the European Economic Area EEA and by its implementation of the Uruguay Round results Norway has taken steps to liberalize its economy resulting in a better and stronger trade regime According to a new WTO report on Norway s trade policies and practices the Norwegian economy now shows signs of continued growth falling inflation and lower unemployment Questions
