The Marrakesh Agreement is an international agreement that was signed in 1994 by the member countries of the World Trade Organization (WTO). This agreement established the rules and principles that govern the operations of the WTO and its member countries. The Marrakesh Agreement is a comprehensive agreement that covers various aspects of international trade, including the treatment of intellectual property rights.
The Marrakesh Agreement is composed of several agreements, including the General Agreement on Tariffs and Trade (GATT), the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the Agreement on the Application of Sanitary and Phytosanitary Measures (SPS). These agreements aim to promote free and fair trade among member countries by removing trade barriers and ensuring that intellectual property rights are protected.
The GATT is the foundation of the Marrakesh Agreement. It provides the legal framework for the multilateral trading system and governs the trade of goods among member countries. The GATT seeks to reduce tariffs and other trade barriers and to promote the liberalization of trade. The GATT also provides for the settlement of disputes among member countries through a dispute settlement mechanism.
The TRIPS agreement was created to prevent the misuse and abuse of intellectual property rights. It provides for the protection of copyrights, trademarks, and patents. The TRIPS agreement sets out minimum standards for the protection and enforcement of intellectual property rights, which are necessary to provide an environment conducive to innovation and creativity.
The SPS agreement is designed to protect human, animal, and plant life and health by ensuring that international trade does not undermine the ability of countries to maintain high standards of food safety and animal and plant health. The SPS agreement requires member countries to base their SPS measures on scientific evidence and to ensure that any measures are not more trade-restrictive than necessary.
Overall, the Marrakesh Agreement represents a significant step forward in the liberalization of international trade. Its provisions seek to promote free and fair trade among member countries by removing trade barriers and ensuring that intellectual property rights are protected. The Marrakesh Agreement has played a vital role in shaping the modern global trading system, and it remains an essential tool for promoting economic growth and development worldwide.