... and International Trade Regulation, May, p10). The GATT had the basic rules of a multilateral trading system and was the first organisation to merge major powers to discuss international trade. It was two things: firstly it was an international agreement on the rules for conducting international trade and secondly, it was an international organisation for overseeing/supporting this agreement. The GATT dealt with the trade of goods only as "international commerce was dominated by trade in goods" (European Community and GATT, Hilf, p32) when the GATT was established in the 1940s. The GATT had a multitude of functions. These were to provide a forum for trade negotiations, handle any trade disputes that develop between member countries, to monitor national trade policies, to provide technical assistance and training for developing countries and to be co-operative with other international organisations. Although the GATT was provisional with a limited field of action it did influence ...

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