The General Agreement On Tariffs And Trade Regulates Trade Relations Between States
Since the FRYY (renamed Serbia and Montenegro and divided in two by subsequent accession negotiations) is not recognised as the direct successor State to the SFRJ; This is why its application is considered a new application (not GATT). On 4 May 2010, the WTO General Council agreed to establish a working group to examine Syria`s application for WTO membership.   On 31 December 1995, the WTO parties terminated the formal agreement on the terms of the GATT 1947. Montenegro became a member in 2012, while Serbia is in the decision-making phase of the negotiations and is expected to become a member of the WTO in the future. The Uruguay Round began in 1986. This was the most ambitious round to date, starting in 1986, in which GATT competences were to be extended to important new areas such as services, capital, intellectual property, textiles and agriculture. .