The Agreement On Agriculture Does Not Aim At

But it is only recently that this change has become at the heart of the reform of the global agricultural system. [1] As regards the General Agreement on Tariffs and Trade (GATT), signed in Geneva in 1947, and the Agreement establishing the World Trade Organisation (WTO), signed in Marrakesh in 1994 (OJ L 347, 13.12.1997, p. 1). The European Union and its Member States shall act in accordance with Article 207 (common commercial policy) and Articles 217 and 218 (international agreements) of the Treaty on the Functioning of the European Union (5.2.2). While the volume of world agricultural exports has increased significantly in recent decades, its growth rate is lower than that of industry, which has led to a steady decline in the share of agriculture in world trade. In 1998, taking into account trade in services, agricultural trade accounted for 10.5% of total merchandise trade and agriculture`s share of world exports fell to 8.5%. . . .