In this blog, GEG’s Carolyn Deere-Birkbeck argues that Ministers should use this Ministerial Conference to take leadership and push discussion of institutional reform and governance higher up the multilateral trade system’s official agenda.
With just over one week remaining before the Seventh WTO Ministerial Conference (30 November – 2 December 2009), WTO reform and the functioning of the [...]
The Global Economic Governance Programme is pleased to announce the release of a discussion draft of Strengthening Multilateralism: A Mapping of Proposals on WTO Reform and Global Trade Governance, by Carolyn Deere-Birkbeck and Catherine Monagle, and jointly published with the International Centre for Trade and Sustainable Development (ICTSD).
Roberto Bouzas
The challenges faced by developing countries and sustainable development regarding global economic governance are not substantially different from those faced by the developed world. In fact, both groups of countries share common challenges.
The first and most urgent challenge is to revive the multilateral trade regime. In the last half century, trade has been the policy area in which the international community has made the most strident progress towards cooperation. In the last decade, however, the effectiveness of the international trade regime has eroded under the weight of a changing international and domestic landscape (a new balance of power, an expanded membership, the emergence of new constituencies, and the development of uncharted regulatory areas). These structural transformations were underway well in advance of the financial crisis, but a creeping recession and mounting protectionist pressures have sharply deepened existing tensions.
Guest blogger Yash Tandon sets out a forward-looking agenda for global trade governance and sustainable development from a Southern perspective.
The world’s multilateral negotiations on trade and on sustainable development over the last decade yield two important lessons for the multilateral system.
The first lesson concerns the interconnectedness of things: trade, security, employment, human rights, development, terrorism, migration, poverty, climate change are all interconnected. For the developing countries of the South, trade and climate change are a dual facet of their continuing sustainable development challenges.
President Obama’s chief of staff, Rahm Emmanuel, is famous for saying that we should “never let a good crisis go to waste”. And let’s make no mistake about it, we are in crisis. While the world’s attention is largely focused on the financial meltdown, with a side order of climate change, we may soon need to face up to the fact that we are living what Australian environmental business expert Paul Gilding calls “The Great Disruption” – the confluence of a major economic breakdown and the unraveling of the global environment. And, while our leaders are busily wheeling out stimulus packages in a desperate attempt to kick-start the faltering economy, the same is not possible for the global environment. In the words of Glen Prickett of Conservation International: “Mother Nature doesn’t do bailouts”.
When the WTO starts its work for 2009 this week, three items must be at the top of the agenda: debating the selection and mandate of the agency’s Director-General (Pascal Lamy’s current four-year term will expire this August); setting a date for a full Ministerial Conference this year in Geneva; and forging a forward-looking agenda for that meeting.
