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Difference Between GATT and WTO

GATT was a set of rules for international trade in goods that operated on a provisional basis, while the WTO is a permanent international organization that oversees global trade rules for both goods and services, including intellectual property. The WTO has a faster, more automatic dispute settlement system compared to GATT and includes plurilateral agreements in addition to multilateral agreements. The WTO's highest decision-making body is the Ministerial Conference.

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936 views

Difference Between GATT and WTO

GATT was a set of rules for international trade in goods that operated on a provisional basis, while the WTO is a permanent international organization that oversees global trade rules for both goods and services, including intellectual property. The WTO has a faster, more automatic dispute settlement system compared to GATT and includes plurilateral agreements in addition to multilateral agreements. The WTO's highest decision-making body is the Ministerial Conference.

Uploaded by

Samita Harwani
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Difference between GATT and WTO

GATT
It is a set of rules and multilateral agreement It was designed with an attempt to establish International Trade Organization It was applied on a provisional basis Its rules are applicable to trade in merchandise goods

WTO
It is a permanent institution It is established to serve its own purpose Its activities are full and permanent Its rules are applicable to trade in merchandise and trade in service and trade in related aspects of intellectual property Its agreements are almost multilateral Its dispute settlement system is fast and automatic

GATT was originally a multilateral instrument, but plurilateral agreements were added at later stage Its dispute settlement system was not faster and automatic

Functions of WTO:

Organizational Structure of the WTO

Ministerial Conference

General council

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