Changes

* The World Trade Organization supplanted GATT, or the General Agreement on Tariffs and Trade, which was signed into law in October 1947 by 23 countries in order to reduce custom tariffs between them.

* The World Trade Organization supplanted GATT, or the General Agreement on Tariffs and Trade, which was signed into law in October 1947 by 23 countries in order to reduce custom tariffs between them.

* Afterwards, proposal for establishment of International Trade Organization was out forward by delegates from fifty-six countries in November 1947 at Havana, Cuba.

* Proposals for the establishment of an International Trade Organization was forward by delegates from fifty-six countries in November, 1947 in Havana, Cuba.

* The Uruguay round started in 1982 and took place over seven and a half years, which was twice the actual allotted time. Around 123 countries took part in it. Although during the early times of the round it seemed to fail, it gradually brought about the largest improvement in the trading field all over the world.  

* The Uruguay round started in 1982 and took place over seven and a half years, which was twice the actual allotted time. Around 123 countries took part in it. Although during the early times of the round it seemed to fail, it gradually brought about the largest improvement in the trading field all over the world.