Impact of General Agreement on Tariffs and Trade on Pharmaceutical Marketing in India
“The 8th round of multi-lateral trade negotiations popularly known as Uruguay round (since it was launched at Punta Del Este in Uruguay)” was started in September 1986 at a special session of GATT contracting parties held at ministerial level. World trade has undergone a structural change during the four decades since the establishment of GATT in 1948.
Thus, besides the tradition GATT subjects such as tariff and non-tariff barriers and improvement in GATT rules and disciplines on subsidies and countervailing measures, anti- duping measures etc. Certain new areas such as “Trade Related Aspects of Intellectual Property Rights (TRIPs), Trade Related Investment Measures (TRIMs)” and trade in service were included for the first time for negotiations.
The Dunkel proposal by Mr. Arthur Dunkel Director General of GATT compiled a very detailed document, finally was acted on Dec. 15, 1993 and India signed the agreement along with 117 nations on April 15, 1994.