GATT was created in 1947 to regulate international trade and lasted until 1995 when it was replaced by the WTO. The WTO was established in 1995 and currently has 164 member countries. It aims to liberalize trade through principles like non-discrimination, transparency, and reciprocal trade commitments between members. The WTO administers trade agreements and acts as a forum for negotiations and resolving disputes between countries.

1. Presentation on WTO & GATT

2. General Agreement on Tariffs and
Trade (GATT)
 It was negotiated during the UN Conference on Trade and Employment
and was the outcome of the failure of negotiating governments to
create the International Trade Organization (ITO).
 GATT was signed in 1947 and lasted until 1993, when it was replaced by
the World Trade Organization in 1995.
 GATT is a multilateral agreement regulating trade among 153 countries

3. GATT…….
 The General Agreement on Tariffs and Trade (GATT) covers
international trade in goods.
 The workings of the GATT agreement are the responsibility of the
Council for Trade in Goods(goods council).
 The Goods Council has 10 committees dealing with specific subjects
(such as agriculture, market access, subsidies, anti-dumping measures
and so on).

4. Purpose of GATT
According to its preamble, the purpose of the GATT is
the "substantial reduction of tariffs and other trade
barriers and the elimination of preferences, on a
reciprocal and mutually advantageous basis."

5. Introduction of WTO
 World Trade Organization (WTO) was established on 1st January 1995.
 It is the only global international organization dealing with the rules of
trade between nations.
 The WTO (World Trade Organization) is an association of 146 member
countries, of the 190 countries in the world today. There are another 30
countries that have observer status, a step that precedes becoming a
full-fledged member.
 So almost all the countries in the world are members. There are all
types of countries in the WTO, capitalist, socialist, rich and poor
countries, very industrialized and also developing countries.

6. Objective of WTO
 Raising standard of living & income.
 Promoting full employment
 Expanding production & trade, and optimum
utilization of resources.
 Introduce sustainable development
 Promoting trade flows.
 Establish procedures for solving trade dispute among members.

7. Basic principles of WTO
1.Non – discrimination:-
 This principle is based on the concept of normal trade
relations-previously called most favored nation(MFN).
 This rule required that het WTO members extend the
same favorable terms of trade to all the member that
they will extend to any single member.

8. Basic principle
2.Transparency :-
 It is the pillar of WTO. All members are required to publish their trade
regulations ,
-To establish & maintain administrative decisions affecting trade.
-To respond to the information by other members and to notify changes
in trade policies to WTO.

9. Basic principle
3.Binding & Enforceable Commitments:-
In WTO, when countries agree to open their market for
goods and services, they bind their commitments.
4.Reciprocity :-
It operates during negotiations with the objective of
obtaining mutually beneficial arrangements through
reciprocal reduction in tariffs binding.

10. Function of WTO
 Administrating & implementing the multilateral &
plurilateral trade agreements which make up the WTO;
 Acting as a forum for multilateral trade negotiation;
 Seeking to resolve dispute;
 Overseeing national trade policies;
 Cooperating with other institutions involved in global
economic policy-making.

11. Thank You