world trade organization’s

What are the Key WTO Agreements Relevant to Entrepreneurs?

Several WTO agreements are particularly relevant to entrepreneurs:

General Agreement on Tariffs and Trade (GATT): This agreement aims to reduce tariffs and other trade barriers, making it easier for businesses to export and import goods.
General Agreement on Trade in Services (GATS): This agreement covers international trade in services, including banking, telecommunications, and professional services.
Trade-Related Aspects of Intellectual Property Rights (TRIPS): This agreement sets minimum standards for the protection of intellectual property, which is crucial for entrepreneurs who rely on patents, trademarks, and copyrights.
Agreement on Trade Facilitation: This agreement aims to simplify customs procedures, making international trade more efficient and less costly.