UN Conference on Trade and Employment

Definition

The UN Conference on Trade and Employment, also known as the Havana Conference, sought to create an International Trade Organization (ITO) to regulate world trade and employment. It laid the groundwork for what later became the General Agreement on Tariffs and Trade (GATT) and eventually the World Trade Organization (WTO).

Related terms

Bretton Woods System: A series of agreements establishing the rules for commercial and financial relations among major industrial states in the mid-20th century.

General Agreement on Tariffs and Trade (GATT):

An international treaty created to reduce trade barriers and promote international commerce through negotiation.

World Trade Organization (WTO): An intergovernmental organization that regulates international trade, born out of negotiations from GATT.