The first of these, which in a sense underlies our understanding of the GATT
1994 and other elements of the WTO, is the preamble of the Marrakech
Agreement—the agreement that concluded the Uruguay Round of negotiations, and established the WTO. Although the text of the GATT itself was not
amended in the Uruguay Round, the preamble of the Marrakech Agreement
is now understood to have made an important change to the original GATT
preamble by incorporating it and making key additions. The original text of
the main paragraph of the GATT 1947 preamble is set out in normal script
below. The additions coming from the Marrakech Agreement are in italics:
Recognizing that their relations in the field of trade and economic endeavour should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, and expanding the production of and trade in goods and services, while allowing for the optimal use of the world’s
resources in accordance with the objective of sustainable development, seek-ing both to protect and preserve the environment and to enhance the means
for doing so in a manner consistent with their respective needs and concerns at
different levels of economic development
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