It Is About WTO and GATT

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Introduction to Supply Chain Management
World Trade Organization
By: Yash Modi(5276724)
Date: 5th February, 2020
The World Trade Organization(WTO) is the only worldwide international organisation
dealing with the rules of trade(ing) between countries. WTO was established on 1995,
January 1st, in Geneva(Switzerland).
The FunctionsOf the WTO
 Administering WTO trade agreements
 Forum For Trade negotiations
 Handling of trade disputes
 Monitoring national trade policies
 Technical assistance and training for developing countries
 Cooperation with other international organizations
WTO main function is to ensure that trade flows as smoothly, predictably and
freely as possible.
Relation between GATTand WTO
The General Agreement on Tariffs and Trade(GATT) is a legal agreement between 128
countries, whose overall objective was to promote international trade by reducing or
eliminating trade barriers such as tariffs, quotas, or otherwise. GATT was signed on 30th

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October 1947 and ended/sub-merged on the year 1994. It was/is a MULTILATERAL TREATY
type of an agreement.
As mentioned above, WTO was established on 1st January 1995, it was created to be marked
the biggest reforms of international trade since the end of the Second World War.
GATT mainly dealt with trade in goods, the WTO and its agreement also cover trade in
services and intellectual property. That is how the WTO came into existence, which also
created new procedures for the settlement of disputes.1
Members of WTO
As of 29th July, 2016; 164 nations are members of the World Trade Organization(WTO).
The latest 5 members(countries) of WTO are;
 Afghanistan- 29th July 2016
 Liberia- 14th July 2016
 Kazakhstan- 30th November 2015
 Yemen- 26th June 2014
 Lao People’s Democratic Republic- 2nd February 2013
Members of GATT
As at the end of the year 1995, GATT contains 128 nation’s signature.
1 Because of the introduction of Modern Globalization( also known as 3rd phaseof Globalization or
Globalization 3.0),there was a need for the World Trade Organization and by sub-mergingGATT in WTO.

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BIBLIOGRAPHY
Book: WTO in Brief
Published: 2018
Website:ww.wto.org