Wto & India
Wto & India
Wto & India
GATT
General Agreement on Tariffs and Trade GATT was formed in 1947 and lasted until 1994 was replaced by the World Trade Organization On 1 January, 1948 the agreement was signed by 23 countries. GATT held a total of 8 rounds.
WTO
BRIEF HISTORY
The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation - notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund.
It oversees the implementation, administration and operation of the covered agreements. It provides a forum for negotiations and for settling disputes. Additionally, it is the WTO's duty to review and propagate the national trade policies, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.[ The WTO is also a center of economic research and analysis: regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization. Finally, the WTO cooperates closely with the two other
WTO
BRIEF HISTORY
A comparable international institution for trade, named the International Trade Organization was successfully negotiated. The ITO was to be a United Nations specialized agency and would address not only trade barriers but other issues indirectly related to trade, including employment, investment, restrictive business practices, and commodity agreements. But the ITO treaty was not approved by the United States and a few other signatories and never went into effect.
WTO
BRIEF HISTORY
In the absence of an international organization for trade, the GATT would over the years "transform itself" into a international organization. The GATT was the only multilateral instrument governing international trade from 1948 until the WTO was established in 1995.
Organizational Structure
Organizational Structure
MINISTERIAL COUNCIL
GENERAL COUNCIL
GOODS COUNCIL
SERVICES COUNCIL
TRIPS COUNCIL