- Significance:
- Eighth round of GATT negotiations (1986-1994).
- Extended the trading system into new areas: trade in services, intellectual property rights.
- Aimed to reform trade in sensitive sectors like agriculture.
- Reviewed all original articles of GATT.
- Agenda included creation of a new institution (WTO).
- Streamlined Dispute Settlement System and Trade Policy Review Mechanism.
- Concluded with the signing of the Marrakesh Agreement.
- Led to the establishment of the WTO and its comprehensive agreements.