European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

Malmstrom 2018

Statement by Cecilia Malmström, Member of the EC in charge of Trade, on the Reform of the World Trade Organization (WTO) and the Global Alliance for Torture-Free Trade. © European Union , 2018 / Photo: Lukasz Kobus

This article is brought to you in association with the European Parliament.

The EU’s approach to the World Trade Organisation (WTO) reform outlined in a document published today will be presented to EU partners in Geneva on 20 September during a meeting on that subject convened by Canada.

The European Commission has today put forward a first set of ideas to modernise the WTO and to make international trade rules fit for the challenges of the global economy.

Presenting the Commission’s concept paper, Commissioner for Trade Cecilia Malmström said: “The multilateral trading system has for the past decades provided a stable, predictable and effective framework for companies across the world, helping many economies to grow rapidly. Also today, the WTO is indispensable in ensuring open, fair and rules-based trade. But despite its success, the World Trade Organisation has not been able to adapt sufficiently to the rapidly changing global economy. The world has changed, the WTO has not. It’s high time to act to make the system able to address challenges of the today’s global economy and work for everyone again. And the EU must take a lead role in that.”

The EU remains a staunch supporter of the multilateral trading system. For that reason, the European Council of 28-29 June 2018 gave the European Commission a mandate to pursue WTO modernisation to adapt it to a changing world, and to strengthen its effectiveness.

The EU’s concept paper published today and already consulted with EU Member States sets out the direction of this modernisation effort. Without prejudice to the EU’s final position on these matters, these ideas relate to three key areas:

  • updating the rule book on international trade to capture today’s global economy
  • strengthening the monitoring role of the WTO
  • overcoming the imminent deadlock on the WTO dispute settlement system.

The EU already started to engage with other WTO partners: with the US and Japan, in the framework of the trilateral discussions; with China, in the dedicated working group set up during the latest EU-China Summit; with other partners, most recently at the G20 Trade Ministerial. The EU will continue discussing these first ideas with various WTO partners in the coming weeks with a view to preparing concrete proposals to the WTO.  The European Parliament and the Council will be kept fully on board of those discussions.

Background

The existence of agreed rules on cross border trade, monitored by the WTO and enforced through an impartial system for resolving disputes helped for decades to defuse trade tensions and avert trade wars. However, the development of new rules on trade has not happened in sync with economic, political and technological changes. In particular, market-distorting subsidies, often channelled through state-owned enterprises are not adequately captured under current international trade rules, eroding the level playing field for economic operators.

The WTO is now increasingly burdened by inflexible procedures and conflicting interest amongst countries. The arm of the WTO that resolves trade disputes is on the verge of being paralysed because of the blocking of nominations of new WTO Appellate Body Members. And the WTO’s role as a monitoring body is under threat by a lack of transparency from many countries.

The proposals published today aim to redress this situation and make the system efficient to the benefit of all its member countries.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Under fire, UN refugee agency evacuates 135 detained in Libya to Niger

EP Group leaders on Brexit: “the agreement is not open to renegotiation”

Chart of the day: This is what violence does to a nation’s GDP

“Beating pollution for our planet”, a Sting Exclusive by Mr Erik Solheim, the Executive Director of the United Nations Environment

Give a chance to the brothers of Ailan: reception of refugees in Greece

Changing world of work needs new jobs strategy

The challenges of the universalization of the health system in Brazil. What can we change?

European Banking Union: no one is perfect

What the next 20 years will mean for jobs – and how to prepare

Outgoing UN official praises Iraq’s ‘exemplary peaceful transfer of power’ at the top

OECD welcomes French plans to increase and better target foreign aid

What brands get wrong about China – and how to put it right

Scientists have created a new kind of plastic that could be infinitely recyclable

I have a rare disease. This is my hope for the future of medicine

Greece: The new government of Alexis Tsipras shows its colors

They won this year’s Nobel for economics. Here’s why their work matters

We need to deep clean the oceans. Here’s how to pay for it

Multiculturalism, social diversity and tolerance

Youth not prioritised in new Commission

GSMA Mobile 360 Series – Europe – 14 June 2016

Technology is delivering better access to financial services. Here’s how

European Parliament the most trusted EU institution

Lack of investment and ambition means Youth Guarantee not reaching potential

World Health Organisation and young doctors: is there any place for improvement?

Here are six bold ideas to accelerate sustainable energy innovation

Deepening Europe’s Economic and Monetary Union: Commission takes stock of progress

Future of Insurance Claims in Focus at Fourth Annual Connected Claims Europe Summit

WhatsApp to face scrutiny from EU regulators task force over data sharing with Facebook

This new way of understanding disease is changing medicine

Malta and Slovakia: MEPs warn of lack of judicial independence and corruption

G20 LIVE: Fact Sheet from the G20 Leaders Summit and key outcomes (G20 Antalya 2015 Summary)

Civilians ‘continue to pay highest price’ in Ukraine conflict, with peace prospects losing ‘momentum’

Why AI will make healthcare personal

Independent UN rights expert calls for compassion, not sanctions on Venezuela

“We are in Europe, but not of it”, from Churchill to Cameron: British Exceptionalism now threatens the entire EU Edifice

Bangladesh elections: Hold those responsible accountable for ‘violent attacks and intimidation’

UN human rights chief denounces grave ‘assaults’ on fundamental rights of Palestinian people

The untold story of who caused and who pays for the economic crisis

How painful is the Greek tragedy for the Germans?

Monday’s Daily Brief: WFP mulls ‘last resort’ Yemen aid suspension, top peacekeeping awardee announced, abuzz over Bee Day, Ebola threat ‘very high’

Trust links up supply chains. How do you establish it in the digital era?

Wind farms now provide 14% of EU power – these countries are leading the way

Erasmus+: an expected budget of €3 billion to be invested in young Europeans and to help create European Universities in 2019

ICC Appeals Chamber acquits former Congolese Vice President Bemba from war crimes charges

Macron in St. Petersburg didn’t oppose Trump on Iran, in Putin’s presence

‘More time’ agreed for buffer zone, to spare three million Syrian civilians in Idlib

Antitrust: Commission fines Google €1.49 billion for abusive practices in online advertising

We can’t tell if we’re closing the digital divide without more data

Nordic noir: The unhappiness epidemic affecting young people in the world’s happiest countries

Youth Parliament to finalise millennials´ priorities for future of the EU

Thousands risk lives fleeing fighting in Syria’s last ISIL stronghold

Will the three major parties retain control of the new EU Parliament?

Security Council hails ‘historic and significant’ joint peace declaration by Ethiopia and Eritrea

JADE Spring Meeting 2017 – day 3: JADE Academy trainings, networking session and gala dinner – Excellence Awards winners revealed

Mobile young people create the European labour market of tomorrow

An FTA between EU-US to hurt South Korea

Commission launches debate on more efficient decision-making in EU social policy

Why business can no longer turn a blind eye to poor vision

ECB offers plenty and cheap liquidity to support growth in all Eurozone countries

We need to bin disposable items for good. Here are 5 ways to do it

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s