Independence...Integrity...Value

The Importance of the Creation of the World Trade Organisation

April 2012

Director General of the World TradeOrganisation (WTO), Pascal Lamy said in 2008 that: “The World TradeOrganisation is the only international body dealing with the rules of trade betweennations and its importance is hard to underestimate”. In the course of thisbriefing paper we assess whether the creation of the WTO has introduced anysignificant improvements from the original General Agreement on Tariff andTrade (GATT) in 1994 and its ability to regulate international trade.

To assess this issue this paperexamines the nature of the World Trade Organisation (WTO) and its importance indealing with international trading rules. In particular we discuss improvementsthat the WTO has made from the GATT in international trade law, in particularthe impact the WTO has had on the settlement of disputes in international tradewith reference to decisions of the Dispute Settlement Body (DSB) of the WTO.

For full briefing paper please click here.

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