How is the WTO different from GATT?
The WTO replaced GATT as an international organization, but the General Agreement on Tariffs and Trade still exists as the WTOs fundamental treaty for trade in goods, although it has been updated as a result of the Uruguay Round. Later WTO agreements also cover trade in services and in intellectual property such as inventions, creations and designs. The main difference between GATT and WTO is that GATT was a set of agreements, while the WTO is updated versions of those agreements covering more tradable products, along with an institutionalised forum to deal with problems and further negotiate those agreements. Like GATT, the WTOs main objective is to help trade flow smoothly, freely, fairly and predictably. The WTO does this by: • working as an institution that administers WTO trade agreements • providing a forum for trade negotiations and settling trade disputes • helping countries, especially developing countries, develop and review national trade policies. The WTO also helps in capa
