What are the major difference between the World Trade Organization and the General Agreement on Tariffs and Trade? Details ....© BrainMass Inc. brainmass.com October 9, 2019, 6:33 pm ad1c9bdddf
The World Trade Organization (WTO) was established in 1995 in the final round (Uruguay Round) of the General Agreement on Tariffs and Trade (GATT) negotiations. The WTO is not a simple extension of GATT, but a complete replacement of it with a different character. The WTO embodies the negotiated results of the Uruguay Round and is the successor to GATT. The WTO is responsible for enforcing the GATT agreements, which are designed to reduce barriers to world trade. During the trade negotiations global rules for international trade were improved and extended to most ...
The major difference between the World Trade Organization and the General Agreement on Tariffs and Trade are provided.