GATT AND WTO uprisal and their functions

1. INTERNATIONAL TRADE
ORGANISATION
After World War II,U.S. developed two innovations:-
THE GATT AND THE ITO
ITO
GATT WTO

2. OUTCOME OF FAILURE
OR
THE SUCCESS STORY
GATT ???

3. GATT…
A Treaty, Not An Organization
“An International Agreement to reduce trade
barriers among Member Countries.”

4. FEATURES
1.)
FOUNDATION
GATT’s Foundation was laid on
To Create ITO…which never came into being

5. FOUNDATION AND ROUNDS
ROUNDS
GENEVA(1947)
ANNECY
(1949)
TORQUAY(1951)
SWITZERLAND
(1955)DILLON
ROUND
(1960)
KENNEDY
ROUND
(1964-67)
TOKYO(JAPAN)
(1973-79)
URUGUAY
ROUND
(1986-94)

6. RULES OF GATT
1.) Protection From Foreign Competition.
2.) Reduction In Restrictions
3.) Most Favored Nation
4.) National Treatment Rule
5.) Principles Of Non Discrimination,
Reciprocity, and
Transparency
6.) Tariff And Non Tariff Meaasures
7.) Conciliation Of Disputes
8.) Waivers In Exceptional Cases

7. PROVISIONS OF GATT
1.) Schedules Of Tariff Concessions
2.) General Elimination Of Quantitative
Restrictions
3.) Exceptions
4.) Settlement Of Disputes

8. Broadened Scope Of MTN’s(Multilateral Trade
Negotiations) By:-
1.) Trade In Services
2.) Trade Related Aspects Of Intellectual Property(TRIPS)
3.) Trade Related Investment Measures(TRIMS)

9. 9
WHAT CAUSED GATT TO SETTLE
DOWN?
1.)Trade In Merchandise Goods Only
2.)Multilateral Instrument
3.)No Institutional Foundation
4.)Provisional Basis
5.)Slow Dispute Settlement System
6.)Temporary Agreement
7.)Negligence Of Some Sectors Such
As
Agriculture, textile Clothing

10. STILL SURVIVED…..
1.)Continual Reduction In Tariffs
2.)High Rates Of Trade Growth
3.)After Even Bring Doubtful
And Temporary Survived For Half A Century(47 Years)
4.)In Absence Of Creation Of Ito…trade Flourished
IT PROVED TO BE…A SUCCESS

11. GATT…
to
WHO…
Unlike the GATT, it is a legal entity.
Unlike IMF and World Bank it is not an agent
of the United Nations.
Unlike the IMF and the World Bank there is no weighted
voting, but all the WTO members have equal rights.
Unlike the GATT, the agreements under the WTO are
permanent and binding to the member countries.

12. 8/23/2014
Unlike the GATT, the WTO dispute settlement system is based on dilatory but
automatic mechanism it is also quicker and binding on the members.
As such the WTO is a powerful body. Unlike the GATT, the WTO’s approach is
rule based and time bound.
Unlike the GATT, the WTO has a wider coverage. It covers trade in goods as
well as services.
Unlike the GATT, the WTO has a focus on trade related aspects of intellectual
property rights and several other issues of agreements.
Above all the WTO is huge organizational body with a large secretariat.