This agreement was concluded at the 1986–1994 Uruguay Round of the General Agreement on Tariffs and Trade (GATT), the WTO’s predecessor.
Ideas and knowledge are an increasingly important part of trade. Most of the value of new medicines and other high-technology products lies in the amount of invention, innovation, research, design, and testing involved. Films, music recordings, books, computer software, and online services are bought and sold because of the information and creativity they contain, not usually because of the plastic, metal, or paper used to make them. Many products that were formerly traded as low-technology ...
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