Monday, September 15, 2008

Difference between WTO and GATT

WTO had its origin in Bretton woods conference after the end of second world war. It was founded in 1948 with 23 members by the name of GATT[General Agreement on Tariffs and Trade]. But in 1995,GATT was rechristined as WTO.
DIFFERENCES
1.GATT was a provisional legal agreement whereas WTO is an organization with permanent agreements.
2.WTO has members while GATT had only contracting parties.
3.GATT dealt only with trade in goods while WTO covers services and intellectual property rights as well.
4.The real critical distinction between GATT and WTO is creation of a binding dispute settlement system.Under GATT contracting parties could bring cases before international body but there was no effective enforcement mechanism. But in WTO an effective enforcement mechanism exists.

14 comments:

mansur ali said...

its super cul man. i was searchin 4 this diffr3enc in every fukin site. thnx 2 givin me ths info. u ppl rock.
--MAK(sheshadipuram)

joyman said...

Thanks you for your comparison. It's really helpful

Em construção said...

Good afternoon, sir!
Damn! I looked for it in a billion of sites! xD

Thank you very much!

Giliarde Berges.

zaid said...

thank u soo much it helped me in my PG exam

jitendra dandotiya said...

heyyy
thanxx a lot man,
i have read diffrence between wto n gatt,but could not get that,,but you presented it in a simple manner.

shishir said...

nice different it will help me a lot bcoz tommorow a am going to face the exam of internation marketing and this question may come thanks 4 posting.

mona said...

thanks for such a wonderful information aboutv gatt and wto

mona said...

thanks for this wonderful information about gatt and wto

Vipul said...

This info helped me a lot.
thank you sir.

raju said...

Raj u-b.u

thanks,it's help me to make ali ahsan's assingment

Nabeela Ahmad said...

Thanks alot its really helpful..its simple and easy to understand....:).

Nabeela Ahmad said...

Thanks alot its really helpful..its simple and easy to understand....:).

Nabeela Ahmad said...

Thanks alot its really helpful..its simple and easy to understand....:).

Ishrat Mulla said...

Nice Explanation & Differences.It will help me in my Exam.Thanks alot....