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Main Objectives of WTO – World Trade Organization

The purpose of objectives of the WTO are spelled out in the preamble to Marrakesh Agreement. In a nutshell, these are : To ensure the reduction of tariffs and other… Read more »

Structure of WTO – World Trade Organization

The Organizational structure of the WTO is outlined in the following chart. The Ministerial Conference (MC) is at the top of the structured organization of the WTO. It is the… Read more »

Features of WTO – World Trade Organization

The distinctive features of WTO – World Trade Organization are : Unlike the GATT, it is a legal entity. Unlike International Monetary Fund (IMF) and World Bank it is not… Read more »

Major Difference Between GATT and WTO

1. GATT was ad hoc and provision but WTO and its agreements are permanent. 2. GATT had contracting parties but WTO has members. 3. GATT system allowed existing domestic legislation… Read more »

WTO – World Trade Organization

WTO has redefined the role of free trade in global framework. The establishment of World Trade Organization is the successor to the GATT on 1st January 1995. GATT which was… Read more »