Financial Market Brief 22 July 2016
Over the next few weeks, this column will present a series of articles that will help explain the World Trade Organisation (WTO) and its relevance to the Bahamian economy. The WTO is an intergovernmental organization that deals with global trade rules between nations. Its primary function is to facilitate and govern the orderly and unencumbered flow of trade within the legal guidelines established. The WTO formally began on January 01, 1995 under the “Marrakesh Agreement” and was initially executed by 123 countries on April 16, 1994, replacing the 1948 General Agreement on Tariffs and Trade (GATT), which was also a multilateral international trade agreement. GATT was formed to effect a relatively large reduction on national tariffs and other trade barriers. The intent of GATT was also to remove the trade preferences of participating countries on a shared and mutually advantageous basis. The Bahamas was not a signatory to GATT. Weekly_Market_Recap_July_22_2016 Click here for full Weekly Market Recap

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