What are the main differences between GATT and the WTO?
• GATT was ad hoc and provisional. The General Agreement was never ratified in members” parliaments, and it contained no provisions for the creation of an organization. • The WTO and its agreements are permanent. As an international organization, the WTO has a sound legal basis because members have ratified the WTO agreements, and the agreements, themselves, describe how the WTO is to function. • The WTO has “members”. GATT had “contracting parties”, underscoring the fact that officially GATT was a legal text. • GATT dealt with trade in goods. The WTO covers services and intellectual property, as well. • The WTO dispute settlement system is faster, more automatic than the old GATT system. Its rulings cannot be blocked.
