On behalf of the European Community (now the European Union), the decision approves the agreement establishing the World Trade Organization (WTO). (2) Least developed countries recognized as such by the United Nations should make commitments and concessions only to the extent that they are consistent with their individual development, financial and commercial needs or administrative and institutional capacities. Council decision 94/800/EC on the conclusion, on behalf of the EU, of the agreements reached in the uruguay round multilateral negotiations (1986-1994), aspects related to trade in goods 3. The related agreements and legal instruments in Schedule 4 (so-called multilateral trade agreements) are also part of this agreement for the members who have accepted them and are binding on those members. Multilateral trade agreements do not create obligations or rights for Members who have not accepted them. Although the Marrakesh agreement itself does not apply directly to your business, the WTO agreements offer, in their annexes, a comprehensive set of rules aimed at facilitating competition in the current global market. The full text of all WTO agreements, including those concluded since the wto`s inception, is contained in the TARA database on negotiations and compliance with U.S. Department of Commerce trade agreements. This publication contains the text of the founding WTO agreement, the 1994 Marrakesh Agreement establishing the World Trade Organization, and its annexes, including all amendments and additions made from its entry into force until September 2017. These include an amendment to the WTO Intellectual Property Agreement (TRIPS) to improve developing countries` access to medicines, of the WTO Trade Facilitation Agreement, which came into force in February 2017, an amendment adopted in July 2017 to extend the frequency of peer review periods under the Trade Policy Review Mechanism from 2019, and the amended Public Procurement Agreement B.
This publication updates and replaces the legal texts: the results of Uruguay`s multilateral trade round, which was first printed in 1994. 2. Membership decisions are made by the Ministerial Conference. The Ministerial Conference approves the agreement on the terms of membership by a two-thirds majority of WTO members. (5) There is a commodity trade council, a services council and a council on aspects of intellectual property rights that affect trade (`TRIPS Advice`), acting under the general direction of the General Council. The Trade in Goods Council monitors the operation of the multilateral trade agreements in Schedule 1A. The Council for Trade in Services monitors the functioning of the general agreement on trade in services (`GATS`). The TRIPS Council monitors the functioning of the agreement on aspects of intellectual property rights that affect trade (hereafter referred to as the TRIPS Agreement). These councils carry out the functions entrusted to them by their respective agreements and by the General Council. They decide on their internal regulations, subject to the agreement of the General Council. Membership in these councils is open to representatives of all members. These councils may meet to carry out their duties.
This agreement defines the scope, functions and structure of the World Trade Organization (WTO). The agreements previously negotiated under the General Agreement on Tariffs and Trade (GATT), as well as the Uruguay Round agreements, have been incorporated as integral parts of the Marrakesh Agreement and have been incorporated into its annexes.