WTO NEWS: 2002 PRESS RELEASES
Press/295
20 May 2002
WTO to announce schedule for disbanding
After a protracted and detailed review of current trade
policy and its effects on developing countries, the World
Trade Organization has decided to effect a cessation of all
operations, to be accomplished over a period of four months,
culminating in September. The WTO will reintegrate as a new
trade body whose charter will be to ensure that trade benefits
the poor.
As of September, agreements reached under the WTO will be
suspended pending ratification by the new organization,
tentatively referred to as the Trade Regulation Organization.
Many existing agreements are likely to be re-ratified, but
each will be subject to individual review for compliance with
the TRO's charter, which is based upon the Universal
Declaration of Human Rights.
The restructuring has come in response to numerous studies
indicating that current trade liberalisation rules and
policies have led to increased poverty and inequality, and
have eroded democratic principles, with a disproportionately
large effect on the poorest countries.
Under the restructuring, the GATS agreement will be
scrapped entirely, and a new agreement regulating services
will be forged after an assessment of the effects of past
services liberalisation, and when there has been adequate
opportunity for governments and civil society to analyse and
debate new proposals.
In addition, all aspects of TRIPS, TRIMS, AoA, and other
agreements will be reviewed with humanitarian and other
considerations in mind, and will be progressively replaced
with corresponding versions under the TRO.
Proposals and resolutions for the foundation of the TRO
will be evaluated beginning in June according to their
likelihood of furthering the TRO charter. Specifically this
will mean redressing the imbalances of existing trade
agreements; providing access for developing countries to
developed countries’ markets; assessing the effects past trade
liberalization and redressing problems where possible; and
developing an enforceable framework for special and
differential treatment guaranteeing that development policies
are not undermined by trade agreements.
The immediate necessity, besides fixing core problems, will
be to build a new regime of trust among members (notably
between HIC and LDC members), with civil society organizations
(NGOs), and with members of the public. The core goal is to
establish rules whose priority is to benefit the poor, improve
the environment, and strengthen democratic principles--in a
pragmatic and immediate rather than theoretical and longterm
sense.
In order to provide greater access to the Least Developed
Countries who will most benefit from the existence of the TRO,
the organisation's headquarters will be moved from their
current location in Geneva to the capital of one of the LDCs.
Proposals for final location are currently being solicited.
The restructuring will proceed according to the following
schedule:
May 31 Final deadline for binding resolutions
June 30
Initial principles
July 15 Comments and emendations to
initial principles
August 15 Final determinations of
principles
September 30 Restructuring complete
NOTE: On May 21, information regarding the WTO's
restructuring was released prematurely at a special luncheon
of CPA Australia, Sydney. The early release of this
information, which met with overwhelming approval, has
accelerated this announcement, originally scheduled for next
Friday.
CONTACT US : World Trade Organization, rue de Lausanne 154,
CH-1211 Geneva 21, Switzerland
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