Gatt Agreement in Malayalam

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The General Agreement on Tariffs and Trade (GATT) is a treaty that outlines rules for reducing and eliminating international trade barriers while regulating trade among its member countries. The agreement was signed on October 30th, 1947, in Geneva, Switzerland, and operated until it was replaced by the World Trade Organization (WTO) in 1995.

Malayalam is a Dravidian language primarily spoken in the Indian state of Kerala and the Union Territory of Lakshadweep. The GATT agreement played a significant role in shaping the state`s economy, which heavily relies on agriculture and the service sector.

The agreement aimed to reduce tariffs and other trade barriers among its member countries, including India. Through GATT, India was granted a more open and liberalized trading system, allowing it to export its goods and services to other member countries at lower costs. This led to an increase in international trade, opening up new markets for Indian businesses and boosting the country`s economy.

GATT also helped to establish fair trading practices between member countries to prevent discrimination against one another. This promoted healthy competition and encouraged innovation, ultimately leading to improved product quality and better prices for consumers.

The agreement has played a vital role in shaping the global economy, providing a framework for fair and open trade. GATT`s legacy lives on today through the WTO, which continues to promote free and fair trade policies and helps to resolve trade disputes between member countries.

In conclusion, the GATT agreement played a significant role in shaping the global economy, and its impact can still be felt today. As a Malayalam speaker, it is important to understand the significance of this agreement and its impact on Kerala`s economy, which heavily relies on international trade. The agreement helped to establish a more open and liberalized trading system, promoting fair trading practices and healthy competition, ultimately leading to a better economic future for all member countries.

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