Evolution Of Trade Governance: Contrasting The Gatt With WTO

Achala Pandey, Amity University Chhattisgarh

ABSTRACT

This thesis explores the transformation of global trade governance, contrasting the General Agreement on Tariffs and Trade (GATT) with the World Trade Organization (WTO). It argues that the shift from GATT to WTO reflects a move towards a more comprehensive and institutionalized approach to regulating international trade.

The analysis highlights GATT's role as a foundational framework focused on tariff reduction. In contrast, the WTO's establishment signifies an expansion in scope, encompassing intellectual property, services, and dispute settlement mechanisms. This evolution reflects the growing complexity of the global economy and the need for a more robust system to ensure smooth and fair trade practices.

The thesis delves into the historical origins of trade governance, tracing its development from early barter systems to the rise of multilateralism after World War II. It then examines the contemporary debates surrounding the WTO's effectiveness and the emergence of mega-trade agreements. Finally, it explores the future of trade governance, emphasizing the need for adaptation to address new challenges and promote inclusivity in the global trading system.