Systemic Issues for the Post MC-9 WTO System
AJWH Vol. 9:367
18 Pages Posted: 31 Mar 2015
Date Written: September 30, 2014
The post MC-9 WTO system needs to live with a mega FTA system. This situation raises several unprecedented issues for the multilateral trading system. When mega FTAs such as the TPP, EU-Japan FTA, TTIP, CJK FTA and TISA are concluded, market access negotiation under the Doha Round and the WTO system in general will become much more difficult since only very controversial issues between developed and developing countries remain before the WTO. Despite this problem, the importance of the WTO will be highlighted in other areas. For example, the role of the WTO in terms of devising multilateral trade rules that, in turn, are the basis of FTA rules will continue to increase even when FTA negotiations explode. Also, while recent mega FTAs are more likely to cause their own trade disputes, the role of the WTO dispute settlement system will be further strengthened in order to resolve various trade disputes caused by diverse trade relationships. Enhanced roles of the WTO, however, require restructuring of the current rules and practices related to decision making among members. In addition, trade rule makings by the committees should be enhanced in the future so that the amendment of trade rules can be continuous and more flexible. After all, the WTO needs to focus on its own comparative advantage.
Keywords: WTO, Doha Negotiation, Ministerial Conference
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