Editorial note

The General Agreement on Tariffs and Trade was originally adopted in 1947 as the main international arrangement to encourage trade between states. The GATT was drafted in response to the protectionist policies of the 1920s and 1930s, which were perceived as major causes of the Great Depression. In December 1993, after seven years of negotiation, the Trade Negotiations Committee of the Uruguay Round adopted by consensus the Final Act. The Final Act includes the Agreement establishing the World Trade Organisation (WTO) and annexed agreements on, inter alia: the General Agreement on Tariffs and Trade 1994 (GATT 1994), the General Agreement on Trade in Services (GATS), the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the Understanding on Rules and Procedures Governing the Settlement of Disputes (DSU). These and related agreements were opened for signature at Marrakesh on 15 April 1994 and entered into force on 1 January 1995. By joining the WTO Parties become legally bound by the annexed agreements (with the exclusion of the Plurilateral Agreements, Annex IV to the Agreements Establishing the WTO, which are optional).

The entire package established a permanent organisation, the WTO, which has become an important forum for addressing issues related to trade and environment. The WTO replaces the former GATT Council as ‘the common institutional framework for the conduct of trade relations among its Members in matters related to the agreements and associated legal instruments included in the Annexes’ to the WTO Agreement.