International Business

European Parliament Approves GATT Agreement: The legislative body passed the General Agreement on Tariffs and Trade by a large majority, clearing the way for final ratification of the accord by the European Union. The Parliament “gives its assent to the conclusion of the results of the Uruguay Round,” it said in a resolution adopted by 325 votes in favor, 62 against and 12 abstentions. The deal must be ratified by all 12 European Union states and the union as a whole, a step that is expected to be completed before the end of the year.