GATT and its functions and policies

In 1944 , developed countries participated in bretton woods meeting . In this meeting they wanted to make international trade organisation but all countries could not agree on its terms but 1948 , they had made a general agreement for tariffs and trade after signing GATT in 1947 by 23 countries including India. Now no. of member countries reached up to 184 .


Objectives and functions of GATT

1. Reduce international restriction
2. Reduce tax problems

1. Development in international trade

Policies of GATT

1. Non discrimination policy
2. No quantitative restrictions
3. Opinions