Uruguay Round


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Uruguay Round

A series of meetings between more than 120 countries between 1986 and 1994. The round created the World Trade Organization and required signatories to reduce trade barriers on agricultural products, which before then had been subject to significant subsidization.
References in periodicals archive ?
The Uruguay Round and its six-year phase-in period provide a strong example of what the reduction of trade barriers can do for exports.
Indeed, after the Uruguay Round there was a clear understanding that there would be a move to liberalise global agricultural trade but after Cancun there was a strong sense that the US reneged on that commitment.
Article 'Trims, Development Aspects and General Agreement', ublished in Uruguay Round, UN 90.
In many developing countries the opposition has centered on the Uruguay Round requirements that all WTO members afford certain intellectual property rights to foreign companies.
Under the Uruguay Round Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement), regulatory requirements that differ from Codex standards may be challenged as trade barriers.
Finally, at the eighth round of trade negotiations under GATT, the Uruguay Round, a reaction to problems emerging in the Tokyo Round is observable, inter alia, a massive revision of trade rules with the development of a totally new agreement to replace the GATT and requiring almost all of the new text to be accepted by all adherents, what the author calls a "single package" approach.
The need for reform can be traced back to the conclusion of the GATT Uruguay round which, in 1995, saw the creation of the World Trade Organisation and included a specific Agreement on Agriculture.
Agriculture, Forestry and Fisheries Minister Tadamori Oshima is poised to make an announcement Friday, including its preference for the proposed cut in agricultural tariffs by an average 36% and a minimum 15% under the so-called Uruguay Round formula.
On November 19, 2002, the IRS issued Revenue Procedure 2002-73 that extends to September 30, 2003, the deadline for amending pre-approved plans to comply with the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), the Uniformed Services Employment and Reemployment Rights Act of 1994, the Small Business Job Protection Act of 1996, and the Taxpayer Relief Act of 1997, which arc collectively known as the GUST amendments.
Citing such reasons, Japan has protected its rice market, charging tariffs equivalent to 490% following its concessions under the 1986-1994 Uruguay Round to accept imports if such high duties are paid.