The European Union (EU) was formerly known as the European Economic Community (EEC) and it was founded in 1957 with a treaty signed in Rome. The organization initially had six members, which are Luxemburg, Belgium, Netherland, Germany, Italy, and France. In 1973, the membership increased to nine with other members, Britain, Denmark, and Republic of […]
filed under: Multilateral Institutions
General Agreement on Tariffs and Trade (GATT)
The General Agreement on Tariffs and Trade (GATT) was formed in Geneva in 1947 but it commenced operation in 1948. The aim and objectives of the organization include working towards the abolition of discriminatory tendencies in foreign trade, working towards the minimization of existing trade barriers among the member nations and discouraging the institution of […]