The Multilateral Trading System:50 years of achievement
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Slide 4
Second round of multilateral
trade negotiations
Annecy, France, 1949
The first round, with 23 countries meeting in Geneva in 1947, led to
the establishment of GATT itself, as well as some 45,000 reductions in
participants' customs duties. It was held in preparation for the Havana
conference.
In this second round, participants agreed to exchange some 5,000 tariff
concessions, and 10 more countries signed the General Agreement.
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