GATT:
GATT is the predecessor
of WTO
Born in 1948 as a result
of the international desire
to liberalize trade
Lasted until 1994, when it
was replaced by the World
Trade Organization.
WTO:
World Trade Organization
The organization officially
commenced on January 1, 1995
deals with regulation of trade
between participating countries
The WTO has 153 members
headquarters is at the Centre
William Rappard, Geneva,
Switzerland.
Geneva
Geneva April
April1947
1947 23
23countries
countries Tariffs
Tariffsas
as Achieved
Achieved45000 45000tariff
tariff
Round
Round 77months
months main
mainsubject
subject concessions
concessionsaffecting
affecting410
410
billion
billionofoftrade
trade

Annecy
Annecy April
April1949
1949 13
13countries
countries Tariffs
Tariffsas
as Countries
Countriesexchanged
exchangedsome
some
Round
Round 55months
months main
mainsubject
subject 5000
5000tariff
tariffconcessions
concessions

Torquay
Torquay Sep
Sep1950
1950 38
38countries
countries Tariffs
Tariffsas
as Cutting
Cuttingof
of1948
1948tariff
tarifflevels
levelsby
by
Round
Round 88months
months main
mainsubject
subject 25%
25%

GenevaII
GenevaII Jan
Jan1956
1956 26
26countries
countries Tariffs
Tariffsas
as Cutting
Cuttingof
of$2.5
$2.5billion
billiontariffs
tariffs
Round
Round 55months
months main
mainsubject
subject

Dillon
Dillon Sep
Sep1960
1960 26
26countries
countries Tariffs
Tariffsas
as Tariff
Tariffconcession
concessionworth
worth$4.9
$4.9
Round
Round 11
11months
months main
mainsubject
subject billion
billionofofworld
worldtrade
trade
Kennedy
Kennedy May
May1964
1964 62
62countries
countries Tariffs,
Tariffs,anti-
anti- Tariff
Tariffconcessions
concessionsworth
worth$40
$40
Round
Round 37
37months
months dumping
dumpingas as billion
billionofofworld
worldtrade
trade
main
mainsubject
subject

Tokyo
Tokyo Sep
Sep1973
1973 102
102 Tariffs,
Tariffs,Non-
Non- Tariff
Tariffreduction
reductionworth
worthmore
more
Round
Round 74
74months
months countries
countries tariff
tariff than
than$300
$300billion
billionofofworld
world
measures
measures trade
trade

Uruguay
Uruguay Sep
Sep1986
1986 123
123 Tariffs,
Tariffs,Non-
Non- The
Theround
roundled
ledtotothe
thecreation
creation
Round
Round 8787months
months countries
countries tariff
tariff ofofWTO,
WTO,extended
extendedthe therange
range
measures,
measures, ofoftrade
tradenegotiations,
negotiations,about
about
dispute
dispute 40%
40%ofoftariff
tariffreductions,
reductions,full
full
settlement,
settlement, access
accesstotoimport
importandandexport
export
textiles,
textiles, textiles
textilesand
andclothing
clothing
agriculture
agriculture

Doha
Doha Nov
Nov2001
2001 141
141 Tariffs,
Tariffs,Non-
Non- The
Theround
roundisisnot
notyet
yet
Round
Round countries
countries tariff
tariff concluded
concluded
measures,
measures,
agriculture,
agriculture,
labour
labour
standards,
standards,
environment
environment
Functions:
Overseas the implementation,
administration and operations of
covered agreements.
provides forum for negotiations
and settlement of disputes.
review and ensure the
transparency of trade policies
Centre of economic research
and analysis
co-operates with other two
components of Bretton woods
system, the IMF and the World
bank
 Non-
Discrimination Transparency

Principles

Binding & Enforceable

Commitments
Safety-Valves
 A wishing country submits an application to General
Council describing all of its trade and economic
policies
the application after being submitted in memorandum
of WTO, is examined by a working party
The working party determines the terms and
conditions of entry into WTO
In final phase of accession bilateral negotiations
between the applicant nation and other working party
members is done
After that the working party sends an accession
package to General Council
After approved by General Council the applicant
 Agreement on Agriculture (AoA)

General Agreement on Trade in Services (GATS)

Trade Related Aspects of Intellectual Property Rights Agreement

Sanitary and Phyto -Sanitary Agreement (SPS)

Agreement on Technical Barriers to Trade (TBT)

GATT
GATT was Ad Hoc and
provisional.
GATT has contracting parties.
GATT system allowed
existing domestic legislation
to continue even if it violated
a GATT agreement.
GATT was less powerful,
dispute settlement system
was slow and less efficient,
its ruling could be easily
blocked.
WTO
WTO and its agreements are
permanent.
WTO has members.
WTO does not permit this.
WTO is more powerful,
dispute settlement
mechanism is faster &
efficient, very difficult to
block the rulings.
 The WTO Is Fundamentally Undemocratic
The WTO Will Not Make Us Safer
The WTO Tramples Labor and Human Rights
The WTO Would Privatize Essential Services
The WTO Is Destroying the Environment
The WTO is Killing People
The WTO is Increasing Inequality
The WTO is Increasing Hunger
The WTO Hurts Poor, Small Countries in Favor of Rich
Powerful Nations
The WTO Undermines Local Level Decision-Making and
National Sovereignty
There are Alternatives to the WTO
The Tide is Turning Against Free Trade and the WTO!