The Marrakech Agreement, manifested by the Marrakech Declaration, was an agreement signed in Marrakech, Morocco, on 15th April 1994, establishing the World Trade Organization, which officially came into being on January 1, 1995.
The agreement developed out of the General Agreement on Tariffs and Trade, supplemented by a number of other agreements on issues including trade in services, sanitary and phytosanitary measures, trade-related aspects of intellectual property and technical barriers to trade. It also established a new, more efficient and legally binding means of dispute resolution. The various agreements which make up the Marrakech Agreement combine as an indivisible whole; no entity can be party to any one agreement without being party to them all.
Famous quotes containing the word agreement:
“Truth cannot be defined or tested by agreement with ‘the world’; for not only do truths differ for different worlds but the nature of agreement between a world apart from it is notoriously nebulous. Rather—speaking loosely and without trying to answer either Pilate’s question or Tarski’s—a version is to be taken to be true when it offends no unyielding beliefs and none of its own precepts.”
—Nelson Goodman (b. 1906)