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.
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14 comments:
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--MAK(sheshadipuram)
Thanks you for your comparison. It's really helpful
Good afternoon, sir!
Damn! I looked for it in a billion of sites! xD
Thank you very much!
Giliarde Berges.
thank u soo much it helped me in my PG exam
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.
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.
thanks for such a wonderful information aboutv gatt and wto
thanks for this wonderful information about gatt and wto
This info helped me a lot.
thank you sir.
Raj u-b.u
thanks,it's help me to make ali ahsan's assingment
Thanks alot its really helpful..its simple and easy to understand....:).
Thanks alot its really helpful..its simple and easy to understand....:).
Thanks alot its really helpful..its simple and easy to understand....:).
Nice Explanation & Differences.It will help me in my Exam.Thanks alot....
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