Changes

* On January 1, 1995, the World Trade Organization was established.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref>

* On January 1, 1995, the World Trade Organization was established.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref>

* From 1947 until 1994 GATT acted as the provider of rules for most of the trading houses all over the world. Although it seemed to be well established for those 47 years, it was actually a provisional organization and agreement. So, the GATT’s fundamental official principles were almost the same since the time it was established. There were a few additions in the year 1960 and 1970 with the goal to reduce the tariffs.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>

* From 1947 until 1994 GATT acted as the provider of rules for most of the trading houses all over the world. Although it seemed to be well established for those 47 years, it was actually a provisional organization and agreement. So, the GATT’s fundamental official principles were almost the same since the time it was established. In fact, there were few additions in the 1960s and 1970s to reduce the tariffs.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>

* However, major changes occurred during the Tokyo Round which lasted from 1973 to 1979 and saw around 102 countries participating. Tit was held with major improvements in mind, however it received mixed reviews and in most of the cases, there was relatively low participation.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>  

* However, major changes occurred during the Tokyo Round which lasted from 1973 to 1979 and saw around 102 countries participating. Tit was held with major improvements in mind, however it received mixed reviews and in most of the cases, there was relatively low participation.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>