Distinguish between GAIT and WTO. Explain the structure and functions of WTO.

It appears there might be a slight confusion in your question. It seems you are referring to GATT (General Agreement on Tariffs and Trade) instead of GAIT. Let me provide information on GATT and WTO:

GATT (General Agreement on Tariffs and Trade):
GATT was established in 1947 as an international trade agreement aimed at reducing tariffs and other barriers to trade. It operated as a provisional arrangement until the establishment of the World Trade Organization (WTO) in 1995. GATT focused primarily on the reduction of tariffs and the elimination of discriminatory trade practices among its member countries.

WTO (World Trade Organization):
The WTO, established in 1995, succeeded GATT and serves as a global organization that deals with the global rules of trade between nations. Unlike GATT, which mainly focused on the trade in goods, the WTO covers a broader range of trade-related issues, including services and intellectual property. The WTO provides a forum for member countries to negotiate and settle trade disputes, establish rules for international trade, and facilitate cooperation on trade policies.

Structure and Functions of WTO:

1. Ministerial Conference:

   • The highest decision-making body of the WTO, where ministers from member countries meet to discuss and negotiate trade-related issues.

2. General Council:

   • Acts on behalf of the Ministerial Conference in between sessions and oversees the day-to-day operations of the WTO.

3. Dispute Settlement Body (DSB):

   • Aims to resolve trade disputes between member countries through consultations and adjudication. It plays a crucial role in ensuring the enforcement of WTO agreements.

4. Trade Policy Review Body (TPRB):

   • Conducts regular reviews of the trade policies and practices of member countries to enhance transparency and promote a better understanding of each country's trade policies.

5. Councils and Committees:

   • Various councils and committees address specific areas such as goods, services, intellectual property, and agriculture. They facilitate negotiations, monitor implementation, and provide a platform for member countries to discuss trade-related issues.

6. Secretariat:

   • The WTO Secretariat, headed by the Director-General, provides administrative and technical support to the WTO's functions. It assists in the implementation of decisions taken by member countries.

7. Trade Rounds and Negotiations:

   • The WTO conducts trade rounds, such as the Doha Development Agenda, where member countries negotiate trade agreements and address various issues related to trade liberalization and development.

8. Trade Facilitation Agreement (TFA):

   • The TFA, a significant achievement of the WTO, aims to simplify and streamline customs procedures to reduce trade barriers and enhance global trade efficiency.

The WTO's functions include promoting free and fair trade, providing a platform for negotiations, settling trade disputes, and assisting developing countries in integrating into the global trading system. It plays a central role in fostering a rules-based international trading system.