Gatt full form: What is the GATT and its

What is the GATT and its purpose? General Agreement on Tariffs and Trade (GATT) was an international trade agreement signed in 1947. 23 nations were signatories of this trade agreement. GATT came into effect on January 1, 1948. The purpose of GATT was to liberalise trade by reducing tariffs and reducing quotas among member countries. What is the full form of GATT? - General Agreement on Tariffs and Trade - General Agreement on Tariffs and Trade (GATT) is a multilateral agreement which was signed in 1947 t General Agreement on Tariffs and Trade (GATT), set of multilateral trade agreements aimed at the abolition of quotas and the reduction of tariff duties among the contracting nations. When GATT was concluded by 23 countries at Geneva, in 1947 (to take effect on Jan. 1, 1948), it was considered an GATT was formed to minimise trade barriers among countries by reducing tariffs, quotas, and subsidies. Know its working, principles and more.