Economic Development and the World Trade Organization
Economic Development and the World Trade Organization
Proposal for the Agreement on Development Facilitation and the Council for Trade and Development in the WTO
The regulatory framework for international trade currently represented by the WTO affects the ability of developing countries to adopt trade related development policies. It has previously been examined how the current regulatory framework for international trade facilitates the economic development of developing countries. This examination revealed the inadequacy of the current system. Alternative provisions were proposed, intended to facilitate economic development, including Development-Facilitation Tariff (DFT) and Development-Facilitation Subsidy (DFS). The need for a new regulatory treatment of development facilitation was thus reasoned, tentatively called the “Agreement on Development Facilitation” (ADF), as well as the necessity to create a new body within the WTO to oversee trade and development issues, namely “the Council for Trade and Development” (the Development Council). This chapter, reiterating the need for the ADF and the Development Council, provides a more detailed account of the possible elements of the ADF, including DFT and DFS and the role of the proposed Council.
Keywords: WTO, developing countries, Development-Facilitation Tariff, Development-Facilitation Subsidy, Agreement on Development Facilitation
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