What Are The Differences Between WTO and GATT?

Difference between GATT & WTO:
GATT		WTO
(1) It is a set of rules and multilateral agree.		(1)	It is	a permanent	institution	and has legal
status.
		Ment. It had no legal status.
(2) Its framework includes many important		(2)	It	administers	a unified	package of
agreements to which side agreements.		all members are committed.
(3) It had a small secretariat managed by a		(3) It has a large secretariat and a huge
		organizational set up.
Director General.
(4) Its rules were applied to trade in goods only		(4) It includes not only trade in goods and
services but		also trade-related aspects of intellectual property
		rights.
(5) Its disputes settlement system was dilatory		(5) Its dispute settlement mechanism is automatic,
faster and
And not bonding on parties.	Binding on the parties.

(6) of WTO It was a form where the members countries Met after a long period to discuss and solve trade problems.

(6) of GATT It is a properly established rule-based world trade organization where decisions on agreements are time bound.

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