The Year Wherein the Philippine Helped Forge the General Agreement on Tariffs and Trade or Gatt

The year 1947 was an important year for the Philippines as it played a significant role in the formation of the General Agreement on Tariffs and Trade (GATT). The GATT was an international agreement aimed at reducing and regulating tariffs, quotas, and other trade barriers among participating countries.

The Philippines, under the leadership of President Manuel Roxas, joined the United States and other countries in drafting the GATT. The country`s input was crucial in shaping the agreement, as it had experienced first-hand the negative effects of protectionist trade policies.

During the early part of the 20th century, the Philippines was a colony of the United States. As a result, it was forced to buy goods from the US at high prices, while its own exports faced high tariffs and restrictions when sold in the US market. This situation hindered the country`s economic growth and development.

When the Philippines gained independence in 1946, it pursued a more open and liberal trade policy. The country saw the potential benefits of free trade and worked towards achieving it. The Philippines` participation in the GATT negotiations showed its commitment to a more open and fair trading system.

The GATT was signed in 1947 by 23 countries, including the Philippines. Over the years, the agreement was expanded to include more countries and to cover more areas of international trade. It was eventually replaced by the World Trade Organization (WTO) in 1995, which upheld the principles of the GATT and further strengthened its mechanisms.

The Philippines` contribution to the GATT was a testament to its role as a responsible and forward-thinking member of the international community. Through its participation, the country helped shape the global trade architecture and push for a more equitable and sustainable economic system.

In conclusion, 1947 was a significant year for the Philippines in its efforts to promote free and fair trade. Its involvement in the GATT negotiations demonstrated its commitment to an open and liberal trade policy, which eventually led to the country`s economic growth and development. The Philippines` contribution to the GATT remains an important part of its history and legacy in the international trade arena.