Uruguay round

Definition

Economics

  • noun the eighth round of negotiations on international tariffs under the auspices of GATT, held in 1986–1994. It opened markets in agriculture and services, reduced government subsidies to local industries and protected intellectual copyrights. It also ended with the establishment of the World Trade organisation as a successor to GATT.
http://www.dictionarycentral.com/definition/uruguay-round.html