Advertisement 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...
Committees and Management Bodies:- The Ministerial Conference establishes three functional committees for discharging functions assigned to them. These committees are:- (A) Committee on Trade & Development (B) Committee on Balance of Payments ( C) Committee on Budget, Finance and Administration Management Bodies:- Plurilateral agreements...
‘ Ministerial Conference:- It is the highest hierarchical level in the organizational structure.. It is composed of representatives of all the members which meet at least once every two years. It is the policy & strategy-making body. The Ministerial Conference takes decision on all matters under any...
General Council:- It is the executive body of the WTO. The Ministerial Conference gets the policies and strategies implemented and executed through general Council. All the members’ countries of the WTO have their representatives in the General Council. The General Council is responsible for: (i) The discharge...
As a result of Agreement signed under the auspices of the GATT, the WTO has come into being – in a place of GATT to give a boost to international trade through increased global market competition. WTO is a landmark in the history of multilateral trade relations. The...
Sixty years have passed since the Bretton Woods agreement established a system for managing the international monetary system and trade under the leadership of the International Monetary Fund (IMF), the International Bank for Reconstruction and Development and a couple of years later, the General Agreements on Tariffs and Trade....
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