New ways needed to conclude WTO trade negotiations

New ways must be found to bring World Trade Organisation (WTO) negotiations to a close as quickly as possible.

This is according to Professor Dickson Yeboah, Head of the Intensive Trade Negotiations Skills Unit at the Institute for Training and Technical Co-operation, WTO who said that this would result in a cost-free incentive for the world economy.

Professor Dickson Yeboah, Head of the Intensive Trade Negotiations
Skills Unit at the Institute for Training and Technical Co-operation,
World Trade Organisation (WTO) speaking at the Regional Advanced
Trade Negotiations Simulation Skills Course for Caribbean Countries
recently at the Hilton Hotel in Barbados.

Speaking at the Regional Advanced Trade Negotiations Simulation Skills Course for Caribbean Countries recently at the Hilton Hotel, he said that the cheapest method in which to accomplish competitiveness enhancement is through free trade, which was discussed at the last Ministerial Conference of the WTO.

“Key Members have given some political indications as to the pathway, such as the services negotiations among a subset of the membership. Smaller groups in variable geometry and bilateral contacts are deemed necessary and essential. At the 8th Ministerial Conference held in Geneva, Ministers were of the view that new pathways would need to be explored to conclude the negotiations. Free trade could serve as the largest economic stimulus package to revive the global economy and fight poverty. We need to conclude the negotiations to secure the credibility of the multilateral system. We need to reach convergence on a number of issues in Agriculture, NAMA, Services and Rules.”

He stated that international agreements require four characteristics, all of which the WTO have in place. These are political will, a target, a procedure to negotiate a deal and an enforcement system. All that is necessary now is “catalysing the political will to complete the negotiations”.

Some of the regional delegates at the Regional Advanced
Trade Negotiations Simulation Skills Course for Caribbean Countries.

Yeboah said that progress must be made in market access for such areas as non-agricultural products and services as well as policy package on development. This would then lead to moving ahead with more vitality and clearer objectives when it comes to closing trade negotiations successfully.

The Head stated that different negotiation offers submitted by various WTO members or groups of them have usually been contingent on counter offers from other members and in order for these negotiations to conclude, members would have to demonstrate a greater compliance to oblige the needs and interests of other members at the negotiation table.

It should also be one where as members of the WTO, countries have trade liberalisation enhancement.

“As Members of the WTO, countries have a stake in the multilateral trading system and can influence it. At the same time, an effective multilateral trading system should give governments the capacity to keep their own domestic markets open or to liberalise them further, according to their trade, financial and development needs. Liberalising trade means increasing individuals’ range of choice. Free trade is not a flood which sweeps away jobs and national standards, but rather an irrigation system for growth whose channels are the negotiated rules of the multilateral trading system.” (PT)