... the Uruguay Round of the General Agreement of Trade and Tariffs. The WTO took on the existing rules that governed the GATT and expanded them. The WTO now has a legal framework that could make binding law and enforce them, which the GATT could not. The WTO also put in place a Trade Policy Review and Dispute Settlement Mechanism. The WTO came into existence in January 1, 1994. This is a position paper that deals with the relationship of the European Union and the WTO. In particular, it spells out the position the EU has on certain issues that will be relevant at the upcoming talks - investment liberalization, intellectual property, and environmental and labour standards. Investment Liberalization We believe that Foreign Direct Investment (FDI) is an important and safe method for both developing countries and investors to create sustainable development. FDI fosters safe, debt free, long-term growth for developing countries. ...

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