1:WTO

2:DIFFERENCE
BETWEEN WTO &
GATT.

PRESENTER: SANIA SAGHIR

ROLL NO:15

SUBMITTED TO: MAAM SANA

A S S I G N M E N T: I N T E R N AT I O N A L B U S I N E S S
MANAGEMENT
 Introduction Of WTO:
WTO: World trade organization
Establish 1st January  1995
What is the WTO?
Who we are?
The WTO has many roles: it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it
settles trade disputes between its members and it supports the needs of developing countries.
 
What we do?
All major decisions are made by the WTO's member governments: either by ministers (who usually meet at least every two
years) or by their ambassadors or delegates (who meet regularly in Geneva).
 
What we stand for?
A number of simple, fundamental principles form the foundation of the multilateral trading system.
 
Overview?
The primary purpose of the WTO is to open trade for the benefit of all.
Introduction Of WTO:
It is the only global international organization dealing with the rules of trade between nations.

The WTO has over 164 members representing 98 per cent of world trade. Over 20 countries
are seeking to join the WTO.

Location: Geneva, Switzerland

Director-General:

Roberto Azevedo is the sixth Director-General of the WTO. His appointment took effect on 1
September 2013 for a four-year term. In February 2017, WTO members agreed to appoint Mr
Azevedo for a second four-year term, starting on 1 September 2017
 Introduction Of WTO:
The Deputy Directors-General:

The four Deputy Directors-General are

1.  Yonov Frederick Agah  of Nigeria

2.  Karl Brauner of Germany

3. Alan Wolff of the United States

4. Yi Xiaozhunn of China.
Principles of WTO:
Non-Discrimination
Transparency
Enforceable commitments
Reciprocity
GATT:
• The General Agreement on Tariffs and Trade (GATT).

• GATT was established in 1948 to regulate world trade. It was

created as a means to boost economic recovery after the Second
World War by reducing or eliminating trade tariffs, quotas and
subsidies.

• The General Agreement on Tariffs and Trade (GATT) was an

international trade agreement signed by 23 nations, in 1947.

• GATT was an aggreement not an organization.

• The functions of GATT have been replaced by the WTO.

Difference between GATT & WT0
Difference between GATT & WT0
WTO GATT
 Permanent institution Multilateral agreement

Includes trade to goods services & Trade in goods only

intellectual property
Small office managed by director general
Administer unified package of agreement
Dispute settlement is slow
to which all members are committed

Dispute solving mechanism is faster and

automatic.