GATT was the predecessor to the WTO and governed international trade from 1948 until 1993. It worked to eliminate trade barriers and boost liberalization. In 1993, WTO was established in Geneva with 153 member nations to replace GATT and provide a framework for multilateral trade negotiations while ensuring a fair and predictable global trading system and settling disputes. Both organizations aimed to stimulate economic growth through freer trade.

1. By, Prayash Neupane

2. GATT stands for General Agreement on
Tarrifs and Trade.
It is the predecessor of WTO.
 GATT’s founding members agreed on a
draft charter for an International
Trade Organization.

3.  ITO charter also agreed by UN Conference on
Trade and Employment of the UN Economic and
Social Council.
 ECOSCO was held in Havana in March 1948.
 GATT remained the only multilateral instrument
governing international trade.

4.  It worked to eliminate all non-traiff
barriers and imports quotas.
 It was to give an early boost to trade
liberalization and to correct the overhang
of protectionist measure
GATT members are not truly members
but only contracting parties.

5. 1. Opportunity an expected benefits.
2. Predictable trading environment.
3. Counter to unfair trade practices.
4. Access to dispute settlement body.

6. WTO stands for World Trade Organization.
WTO replaced GATT on 15th December 1993
with succesful completion of the Uruguya
negotiations.
There are 153 membership nation on January
2011.

7. WTO is located in Geneva, Switzerland.
It is supported by staff group of 637.
The ministers of member countries signed the
final Act of WTO at a meeting in Marrakesh,
Morocco in April 1994.

8.  National Treatment : Treating
foreigners & locals equally.
 Most favored nation.
 Predictable & stable trading system.
 Promoting fair competition.
 Encouraging socio & economic
development.
 Free Trade & liberalization.

9. The system helps to keep the peace.
The system allows disputes to be
handled constructively.
The system based on rules rather than
power makes life easier for all.
Freer trade cuts the cost of living.

10.  It gives consumers more choice, and a
broader range of qualities to choose
from.
Trade raises incomes
Trade stimulates economic growth, and
that can be good news for employment.

11. The WTO is fundamentally
undemocratic.
The WTO will not make us safer.
The WTO tramples human rights &
Labor.
The WTO is destroying the environment.
The WTO is increasing inequality.
The WTO is in favor of rich powerful
countries.
The WTO hurts poor small countries.