The WTO's importance in relation to the global trading system has now diminished

Thèmes abordés

WTO, World Trade Organization, trading, trade conflicts, international trade

Résumé du document

Born in 1995, the World Trade Organization's mission is to liberalize trade in goods and services in the world. Globalisation with the creation of a jurisdiction of trade conflicts, WTO conferences from Seattle to Bali in 2013 , showed the new influence of the institution, the a major issue in North-South relations, but also new social debates. (WTO, 2015) Organized in November 2001 by the World Trade Organization, which then consisted 125 member countries, the Doha Round is a three years round of negotiations whose main of them focused on agriculture. The main objectives were indeed substantially, improve market access for developing countries, that is to say, to liberalize international trade, while trading various other challenges: development of poor countries (Declaration of the TRIPS Agreement about access to medicines in developing countries) and environmental issues (reduction or elimination of tariff barriers for environmental goods and services).

Extraits

[...] WTO's role It is worth recalling some essential aspects of the WTO to avoid the most fundamental errors of fact, the WTO, like the GATT, based on three "pillars.” (WTO, 2015) The first is the actual text of the GATT (signed in 1947, included in full by the WTO) on the liberalization of trade in goods. Non-discrimination is a fundamental principle of this text. Thus, states-members express their desire to eliminate discrimination in global trade relations. Non discrimination arises two main principles: - The Most Favored Nation (MFN) treatment: any advantage provided to a state by another must be granted to any other country. [...]

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[...] We must add that currency fluctuations such as the recent decline in the dollar and the rise of the euro in 2003 create strong trade distortions which cancel the benefits from the reduction of customs duties. Alternative institutions are also looking to challenge the WTO. These include UNCTAD (United Nations Conference on Trade and Development) but also the OECD which stands as an economic authority more influent than the WTO. The ILO (International Labour Organization) states as the only competent for employment problems and their consequences on competition rules. The WTO, in its statement of Singapore (1996), has recognized that the ILO was alone responsible for the definition of social standards and their application. [...]