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Eurochambers Academy Forum International Trade and Globalisation

Eurochambers Academy Forum International Trade and Globalisation. Annecy, 23 rd –24 th January 2003. From GATT to WTO. The evolution of the world trading system. From GATT to WTO. Some key questions Little history on the ITO The founding principles of the GATT

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Eurochambers Academy Forum International Trade and Globalisation

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  1. Eurochambers Academy ForumInternational Trade and Globalisation Annecy, 23rd –24th January 2003

  2. From GATT to WTO The evolution of the world trading system

  3. From GATT to WTO • Some key questions • Little history on the ITO • The founding principles of the GATT • The evolution of the international trading system

  4. Some key questions • Are GATT’s founding principles still valid? • What are the limits to the WTO rules based system? • Is institutional reform needed to ensure inclusiveness with effectiveness • Has the nature of international trade diplomacy undergone fundamental change and if so how?

  5. The Origins • US Reciprocal Trade Agreements Act 1934 • liberalisation based on reciprocity not liberal • negotiations during WW II (US and UK) • ITO as one of the Bretton Woods institutions • GATT as part of ITO (23 countries participating) • US leadership, compromises to satisfy other OEEC countries, limited DC presence

  6. The founding principles of the GATT • Non-discrimination • most favoured nation status and national treatment • Reciprocity • WTO is a system of managed liberalisation • exceptions (Arts 6, 18, 19, 20, 24)

  7. The evolution of the trading system • Widening and deepening • Widening = more inclusive membership • Deepening = extension of the coverage of the rules based system • tariffs: non-tariff barriers: regulatory barriers to trade and investment: structural barriers

  8. The early rounds • Geneva 1947 (23 countries/tariffs) • Annecy 1949 (29 countries/tariffs) • Torquay 1950-51 (32 countries incl FRG) • Geneva 1955-56 (33 countries incl. Japan) • Dillion 1960 - 61 (39 countries and EEC) • variable success in tariff reductions, but MFN principle worked very well

  9. The Kennedy Round 1964-67 • Deepening • non-tariff barriers covered for the first time (anti-dumping, subsidies and customs procedures and agriculture) • Widening • 74 Contracting Parties to the GATT but Special and Differential Treatment

  10. The Tokyo Round 1973 -79 • Widening • 99 Contracting Parties to the GATT • many new developing countries • Deepening • non-tariff barriers • range of qualified MFN codes (subsidies and countervailing duties, anti-dumping, technical barriers to trade, public procurement) • Continuation of Part IV

  11. The Uruguay Round 1986 -94 • Resulted from pressure for widening and deepening • Widening • graduation for developing countries • a single undertaking • 129 members of the WTO at the end

  12. Uruguay Round Deepening • Non-tariff barriers addressed more effectively • New issues included (GATS, TRIPs and TRIMs) • Serious challenge to the founding principles • Agriculture, textiles and clothing brought back under the rules of the WTO

  13. Uruguay Round Institutional Changes • Creation of the WTO • Ministerials every two years • revised dispute settlement procedures

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