Trade monitoring
Quantitative economics in WTO dispute settlement
WTO dispute settlement continues to be the subject of extensive scrutiny by both trade practitioners and academics. Not surprisingly, most of this analysis is legal in nature, touching upon the various arguments that have been put forward by parties to disputes and the legal foundations upon which these disputes are adjudicated. While legal and procedural issues remain the domain of trade lawyers, economists are being called upon with increased frequency on matters that call for economic interpretation or quantification. This should hardly be surprising given that multilateral trade rules reflect key economic principles such as comparative advantage, and that many of the terms in WTO Agreements, which are important in the resolution of disputes, have an economic basis. It may also have to do with the fact that increasing numbers of disputes are reaching the implementation phase, in which arbitrators need to quantify the allowable level of retaliation, as will be further explained below.
A brief history
The WTO began life on 1 January 1995 but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. Whereas GATT had mainly dealt with trade in goods, the WTO and its agreements now cover trade in services, and in traded inventions, creations and designs (intellectual property).
Implementation and monitoring
WTO councils and committees continued to monitor the implementation of WTO agreements and to review whether requirements were being followed by WTO members. They also provided a forum for discussion on various issues, ranging from trade and climate change to the food price crisis. Seventeen trade policy reviews of WTO members were undertaken in 2008.
Contacts avec le public
L’OMC utilise différents moyens de communication, comme son site Web et les réseaux sociaux, pour dialoguer avec le public. Le site Web a attiré un peu plus de 20 millions de visiteurs en 2016, et l’OMC est de plus en plus suivie sur les réseaux sociaux. Les vidéos sur le site Web ont été regardées plus de 200 000 fois en moyenne chaque mois. Pendant l’année, l’OMC a produit plus de 70 publications et a organisé le lancement de 5 livres. Elle a accueilli 208 groupes de visiteurs en 2016.
Trade-related aspects of intellectual property rights (TRIPS)
The TRIPS Council continued to promote transparency in WTO members’ intellectual property (IP) systems and reviewed implementation of the TRIPS Agreement. It discussed access to medicines, biodiversity, traditional knowledge, the patentability of life forms, biotechnology and technical cooperation, among other topics. The Council extended until January 2033 a waiver on least-developed countries (LDCs) having to apply TRIPS provisions on pharmaceutical patents. It also recommended a parallel waiver of LDC obligations regarding two other TRIPS provisions regarding pharmaceutical products. The Council discussed aspects of innovation policy, including the role of IP in financing innovation.
Preface
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.