Uruguay Round Results

The results of the Uruguay round meant a complete change in the international trading system that was being used back then. It completely shifted and created a new more complete structure of everyaspect that was playing out in the international trading system. It covered all types of trade and it’s known as the largest negotiation ever.
After the Uruguay round many new agreements weredeveloped. All these agreements fall into a structure of six parts clearly, defined and organized.
The most significant and obvious change that resulted from the Uruguay round was the creation of the WTO.The WTO replaced GATT as an international organization. During the negotiations what incited the replacement of GATT was that this one provided only a portion of what the international arena had begunto generate so the WTO was created as an evolution of GATT encompassing many other aspects, not just related to tariffs and goods, that were taking place in the moment. Of course GATT was noteliminated and this one became part of WTO and a treaty for trade in goods.
Then we have agreements for each of the three main trade areas that the WTO covers. These areas being GATT (General Agreement onTariff and Trade) , GATTS (General Agreement on Trade in Services), and lastly TRIPS ( Trade Related Aspects of Intellectual Property Rights).
Most of the Uruguay round focused on the goods andservice mainly because many other agreements branched out from these areas and they were and are the dominating force in the international arena. TRIPS emerged with the focus of implementing standardsthat would enforce and protect all forms of intellectual property rights most of all taking into account patents especially in the pharmaceutical area providing access to medicine by building up andreinforcing patents on medicine.
In the structure after these agreements there are other extra agreements that deal with specific sectors and issues as special requirements.
Then we find the market...