Published: 3rd May, 2024
Context
The World Trade Organization (WTO) commemorates the 30th anniversary of the Marrakesh Agreement, a pivotal moment in global trade history.
About Marrakesh Agreement
- Formally established by the Final Act of the Uruguay Round of Multilateral Trade Negotiations, the Marrakesh Agreement laid the foundation for the creation of the WTO.
- On April 15, 1994, the Marrakesh Agreement was signed by 123 countries, paving the way for the establishment of the WTO on January 1, 1995.
- Over the past three decades, the WTO has played a crucial role in facilitating a significant expansion in global trade, aiming to enhance living standards, bolster employment opportunities, and foster sustainable development.
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