Governing world trade
13 September 2012
Purchasing and supply professionals need to understand the role and history of the World Trade Organisation, which sets the rules that govern global sourcing. Mike Gillingham explains
It is now seven years since the World Trade Organisation (WTO) was born out of the Uruguay round of the General Agreement on Trade and Tariffs (Gatt) talks. For students of international purchasing, this often creates confusion as to what has happened to Gatt. Has it been disbanded, and what is different about the WTO?
The simple answer is although the WTO...