The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between 102 nation-states that were parties to the

GATT The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its pre ...

. The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of

non-tariff barriers Non-tariff barriers to trade (NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. The Southern African Development C ...

(NTBs) and voluntary export restrictions. The aim was further to harmonise government policies. Concessions were made on $19 billion worth of trade, and were scheduled to enter effect over eight years from 1980. The Tokyo Round concluded in April 1979. The Tokyo Round was held to be "the most comprehensive of all the seven rounds of negotiations held within the GATT since its founding in 1948." One novelty was that it covered bovine meat and

dairy products Dairy products or milk products, also known as lacticinia, are Food product, food products made from (or containing) milk. The most common dairy animals are cow, water buffalo, dairy goat, nanny goat, and Sheep, ewe. Dairy products include commo ...

. The

agricultural sector The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in de ...

was a focus. Developing countries were given more say in this round than had been the case in past MTNs.

References

{{reflist World Trade Organization General Agreement on Tariffs and Trade Commercial treaties Treaties concluded in 1980