The World Trade Organisation
نویسنده
چکیده
The World Trade Organisation (WTO) which became operational on 1 January 1995 is the successor to the General Agreement on Tariffs and Trade (GATT). The WTO provides the legal framework for world trade, and it has been given extensive regulatory and supervisory powers. Whereas the GATT was solely concerned with trade liberalization based on tariff concessions, the WTO’s approach embraces discussions of domestic policies, institutional practices and regulations. Under the WTO ‘new’ issues such as services, trade related intellectual property rights, and domestic [non-trade] policies are the subject of trade liberalization, and while maintaining a focus on bargaining over products, it has engineered a shift towards negotiations over policies that shape the conditions of competition, and is attempting to secure policy harmonization in a number of areas. Furthermore, the dispute settlement process in the WTO is much stronger than that in GATT.
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