What Is The Role Of General Agreement On Tariffs And Trade (Gatt)

The most important requirement was that each member should give each other most-favoured-nation status. All members must be treated equally with respect to rates. It excluded special customs duties among members of the British Commonwealth and the Customs Union. It allowed customs duties if their removal caused serious injury to domestic producers. The World Bank is an international financial institution that provides loans to developing countries for investment programs. The Official Goal of the World Bank is to reduce poverty. According to the Statute of the World Bank (as amended on 16 February 1989), all its decisions must be guided by the obligation to promote foreign investment, international trade and capital investment. The EU operates through a system of independent supranational institutions and intergovernmental decisions negotiated by the Member States. The EU is represented at the United Nations, the WTO, the G8 and the G20.

The Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries (formerly member countries) that aims to promote free trade and economic cooperation throughout the Asia-Pacific region. Founded in 1989 in response to the growing interdependence of Asia-Pacific economies and the emergence of regional economic blocs (such as the European Union) in other parts of the world, APEC strives to raise living standards and education levels through sustainable economic growth and to promote a sense of community and appreciation of common interests among Asia-Pacific countries. At the 1994 meeting in Bogor, Indonesia, APEC leaders adopted the Bogor Goals, which aim to achieve free and open trade and investment in the Asia-Pacific region by 2010 for developed countries and by 2020. .