At the signing of the Uruguay Round trade agreement in Marrakech, Morocco, in April 1994, US representatives pushed for an normous expansion of the definition of trade issues. The result was the creation of the WTO, which encompasses the current GATT structure and extends it to new areas not adequately covered in the past. The WTO is an institution, not an agreement as was GATT. It sets many rules governing trade between its 148 members, provides a panel of experts to hear and rule on trade disputes between members, and unlike GATT, issues binding decisions. It will require, for the first time, the full participation of all members in all aspects of the current GATT and the Uruguay Round agreements, and through its enhanced stature and scope, provide a permanent, comprehensive forum to address the trade issues of the 21st century global market.
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