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Q.

What is the difference between WTO and GATT?

Tags: education, wto, news & events
Asked by Manasa Veena, 09 Mar '12 08:51 am
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Answers (2)

1.

WTO- legally permanent provision ...
GATT- provisional legal agreement...
Answered by vijay, 11 Mar '12 01:53 pm

 
  
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2.

As an organization, GATT had provisional legal agreement whereas WTO has legally permanent provision. Whereas the members were called contracting parties in GATT, they are real members in WTO. While GATT was limited to trade in goods only, the scope of WTO is broader with services and intellectual property rights also included in it.
The most notable difference is the establishment of a dispute settlement mechanism that has the power to impose trade sanctions against erring parties.
While GATT allowed domestic legislation to continue, WTO does not permit this practice any more.
GATT was weak while WTO is more powerful
Answered by aflatoon, 09 Mar '12 08:59 am

 
  
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