New York General Agreement

• Category: Corporations - Public - Agreements
• State: Multi-State
• Control #: US-EG-9454
• Format: Word; Rich Text

Description

General Agreement between Choice One Communications, Inc. and Lucent Technologies, Inc. regarding supply and procurement of products and services dated September 30, 1998. 69 pages. The New York General Agreement, also known as the General Agreement on Tariffs and Trade (GATT), is a historic international treaty designed to promote global trade by reducing barriers and fostering cooperation among nations. This agreement was negotiated in multiple rounds, with the final one leading to the establishment of the World Trade Organization (WTO) in 1995. The New York General Agreement encompasses a broad range of provisions aimed at liberalizing global trade. It encompasses various types of agreements, such as: 1. Tariff Reductions: The agreement encourages countries to lower import duties on traded goods, thereby facilitating the flow of goods across borders. Tariff reductions serve to increase market access and promote economic growth by reducing trade barriers. 2. Non-discrimination: Under the New York General Agreement, a principle called "Most-Favored Nation" (MFN) treatment is established, wherein any favorable treatment granted to one country's product should be extended to all other nations. This principle ensures fair competition and prevents discrimination among trading partners. 3. Trade Regulations: The treaty addresses the application of various regulations and measures, such as anti-dumping duties, subsidies, and technical barriers to trade. It aims to prevent unfair trade practices and maintain a level playing field for all countries involved in international trade. 4. Dispute Settlement: The New York General Agreement institutes a dispute settlement mechanism to resolve conflicts that arise from violation of the agreement's provisions. It provides a platform for member countries to bring their grievances forward and find mutually acceptable solutions, thereby ensuring the smooth functioning of global trade. 5. Services and Intellectual Property: The New York General Agreement also covers trade in services and intellectual property rights. Countries are encouraged to liberalize their service sectors and protect intellectual property, fostering innovation and creativity on a global scale. It is worth noting that the New York General Agreement underwent several rounds of negotiations, leading to different versions and updates over time. The most notable rounds include the Tokyo Round, the Uruguay Round, and the Doha Round. Each round aimed to address new challenges and expand the scope of global trade regulations. In conclusion, the New York General Agreement, or GATT, is a comprehensive international treaty that promotes global trade by reducing barriers and fostering cooperation among nations. It covers various aspects of trade regulations and encourages fair competition while providing mechanisms for dispute settlement. The agreement has evolved over time through different rounds of negotiation, adapting to the changing needs of the global economy.

The New York General Agreement, also known as the General Agreement on Tariffs and Trade (GATT), is a historic international treaty designed to promote global trade by reducing barriers and fostering cooperation among nations. This agreement was negotiated in multiple rounds, with the final one leading to the establishment of the World Trade Organization (WTO) in 1995. The New York General Agreement encompasses a broad range of provisions aimed at liberalizing global trade. It encompasses various types of agreements, such as: 1. Tariff Reductions: The agreement encourages countries to lower import duties on traded goods, thereby facilitating the flow of goods across borders. Tariff reductions serve to increase market access and promote economic growth by reducing trade barriers. 2. Non-discrimination: Under the New York General Agreement, a principle called "Most-Favored Nation" (MFN) treatment is established, wherein any favorable treatment granted to one country's product should be extended to all other nations. This principle ensures fair competition and prevents discrimination among trading partners. 3. Trade Regulations: The treaty addresses the application of various regulations and measures, such as anti-dumping duties, subsidies, and technical barriers to trade. It aims to prevent unfair trade practices and maintain a level playing field for all countries involved in international trade. 4. Dispute Settlement: The New York General Agreement institutes a dispute settlement mechanism to resolve conflicts that arise from violation of the agreement's provisions. It provides a platform for member countries to bring their grievances forward and find mutually acceptable solutions, thereby ensuring the smooth functioning of global trade. 5. Services and Intellectual Property: The New York General Agreement also covers trade in services and intellectual property rights. Countries are encouraged to liberalize their service sectors and protect intellectual property, fostering innovation and creativity on a global scale. It is worth noting that the New York General Agreement underwent several rounds of negotiations, leading to different versions and updates over time. The most notable rounds include the Tokyo Round, the Uruguay Round, and the Doha Round. Each round aimed to address new challenges and expand the scope of global trade regulations. In conclusion, the New York General Agreement, or GATT, is a comprehensive international treaty that promotes global trade by reducing barriers and fostering cooperation among nations. It covers various aspects of trade regulations and encourages fair competition while providing mechanisms for dispute settlement. The agreement has evolved over time through different rounds of negotiation, adapting to the changing needs of the global economy.