TRADE:GATT-UR-

WTO
NAME: LEONILA T. DOTIMAS
AND
JOHANNAH FERRER
Section: BSA-2C
Instructor: Ma’am Nanette Della
 WHAT IS GATT?
 The General Agreement on Tariffs and Trade
(GATT) was a multilateral agreement regulating
international trade. It was negotiated during the
United Nations Conference on Trade
Employment and was the outcome of failure to
negotiating governments to create the
International Trade Organization (ITO) .
 GATT was signed in 1947, took effect in 1948; it
was replaced by the World Trade Organization
 Objective of GATT
 To provide equal opportunities to all countries
in terms of trade in international market.
 Increase effective demand for real income
growth goods
 Minimize tariffs and other restrictions on trade
 Ensure better living standard
 To strengthen and clarify rules for agricultural
trade.
 WHAT IS WTO
 Created in 1995, the World Trade Organization (WTO) is an
international institution that oversees the rules for global trade
among nations. It superseded the 1947 General Agreement on
Tariffs and Trade (GATT) created in the wake of World War II.
 The WTO is based on agreements signed by a majority of the
world’s trading nations. The main function of the organization
is to help producers of goods and services, as well as exporters
and importers, protect and manage their businesses.
 As of 2021, the WTO has 164 member countries, with Liberia
and Afghanistan the most recent members, having joined in
July 2016, and 25 “observer” countries and governments.
 IMPORTANT OF THE WTO
The World Trade Organization (WTO) is the body
that keeps global trade running smoothly. It oversees
the rules and mediates disputes among its member
nations. It now has 164 member nations and 25
observer nations.
 FUNCTION OF WTO
 Administering WTO trade agreements
 Forum for trade negotiate
 Monitoring National Trade policies
 Technical assistance and training for developing
countries.
 Cooperation with other international
organization