<P> The 1986 Ministerial Declaration identified problems including structural deficiencies, spill - over impacts of certain countries' policies on world trade GATT could not manage . To address these issues, the eighth GATT round (known as the Uruguay Round) was launched in September 1986, in Punta del Este, Uruguay . It was the biggest negotiating mandate on trade ever agreed: the talks were going to extend the trading system into several new areas, notably trade in services and intellectual property, and to reform trade in the sensitive sectors of agriculture and textiles; all the original GATT articles were up for review . </P> <P> The round was supposed to end in December 1990, but the US and EU disagreed on how to reform agricultural trade and decided to extend the talks . Finally, In November 1992, the US and EU settled most of their differences in a deal known informally as "the Blair House accord", and on April 15, 1994, the deal was signed by ministers from most of the 123 participating governments at a meeting in Marrakesh, Morocco . The agreement established the World Trade Organization, which came into being upon its entry into force on January 1, 1995, to replace the GATT system . It is widely regarded as the most profound institutional reform of the world trading system since the GATT's establishment . </P> <P> The position of Developing Countries was detailed in the book: Brazil in the Uruguay Round of the GATT: The Evolution of Brazil's Position in the Uruguay Round, with Emphasis on the Issue of Services . In this book, the polemics about the issue of services are described, as well as the opposition of Developing Countries to the so called "New Issues". </P> <P> The GATT still exists as the WTO's umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations (a distinction is made between GATT 1994, the updated parts of GATT, and GATT 1947, the original agreement which is still the heart of GATT 1994). The GATT 1994 is not, however, the only legally binding agreement included in the Final Act; a long list of about 60 agreements, annexes, decisions and understandings was adopted . In fact, the agreements fall into a simple structure with six main parts: </P>

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