Multilateral example sentences

Since its inception in 1995, WTO has come a long way in constituting the legal and institutional foundation of the present day multilateral trading system.As the principal international body concerned with solving trade problems between countries and providing a forum for multilateral trade negotiations, it has a global status similar to that of the IMF and the World Bank.This is calculated as the Nominal Effective Exchange Rate (NEER) which is a multilateral rate representing the price of a representative basket of foreign currencies, each weighted by its importance to the domestic country in international trade (the average of export and import shares is taken as an indicator of this).Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS): The WTO's agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) was negotiated in 1986-199 It was the Uruguay Round of GATT negotiations where for the first time the rules relating to intellectual property rights were discussed and introduced as part of the multilateral trading system.GATS is regarded as a landmark achievement of the Uruguay Round as it extends the multilateral rules and disciplines to services.