oct 30, 1947 - General Agreement on Tariffs and Trade (GATT)

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Question 1b.
The General Agreement on Tariffs and Trade (GATT) came into effect on 30th October 1947 through a protocol of provisional application, the group had expanded to 23. The original intention of GATT was to create a third institution to handle trade side of the international economic cooperation, joining the two Bretton woods institutions, the International Monetary Fund and the World Bank. From 1948 to 1994, the GATT provided the rules for much of the world trade and presided over periods that saw some of the highest growth in international commerce. Although it seemed well-established, it remained a provisional agreement and organization with a limited field of action.

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