Havana Conference

Definition

The Havana Conference was a United Nations meeting held in 1948, aiming to establish an International Trade Organization (ITO) as part of a post-World War II effort to create a stable and cooperative international economic environment. Though the ITO was never realized due to lack of ratification, the conference laid foundational principles for international trade relations.

Related terms

Bretton Woods Institutions: These are financial institutions created during the Bretton Woods Conference in 1944, including the World Bank and the International Monetary Fund (IMF), established to promote international monetary cooperation.

General Agreement on Tariffs and Trade (GATT): An international treaty created in 1947 that aimed to reduce tariffs and other trade barriers; it served as a framework for negotiating trade agreements until it was replaced by the World Trade Organization (WTO) in 1995.

International Monetary Fund (IMF): An international organization that works to secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world