Difference Between GATT and WTO
Several individuals become confused between the presently defunct GATT and WTO and cease to recognise the difference. GATT is an acronym for General Agreement on Tariffs and Trade. The GATT was established in 1948 and later replaced by the WTO acronym for World Trade Organization. We can recognise the difference when focusing on the different procedures, formats, emphasis, and scope of the two institutions. This article will clarify the primary differences between GATT and WTO.