The General Agreement on Tariffs and Trade

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Abstract
Among the features that distinguish the General Agreement on Tariffs and Trade (GAIT) from other international organizations concerned with the trade of less developed countries are two that are especially significant. GATT is the only interregional organization in which the undertakings by members take the form of contractual commitments. It is also an organization that is concerned with trade not only between developed and less developed countries but within these two groups as well. The question can be raised, however, as to whether an organization so constituted and oriented is suited to the task of facilitating the export earnings of the less developed countries or whether, on the contrary, a more specialized body, devoted exclusively to that task, is likely to achieve better results.

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