Moreover, the WTO reverses policies of protection in certain ‘sensitive’ areas (e.g., agriculture and textiles) that were more or less tolerated in the old GATT. The new version, called GATT 1994, classifies and strengthens the original GATT rules for trade in goods.Ħ. The WTO contains a much improved version of the original GATT rules plus a lot more. The WTO also administers a certified package of agreements to which all members are committed in contrast, the GATT framework included many side agreements (for example, anti-dumping measures and subsidies) but its membership was limited to a few nationsĥ. The WTO has a far wider scope than the old GATT, bringing into the multilateral trading system, for the first time, trade in services, intellectual property, and investment.Ĥ.
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