A Consultative Board appointed by the Director General of the World Trade Organisation (WTO) in June 2003 and commissioned to comment on the future challenges of the institution has recently released a report, entitled 'The Future of the WTO'. Composed of notable trade luminaries, such as former GATT Secretariat Director-General Peter Sutherland and renowned trade economist Jagdish Bhagwati, the report of the consultative board is comprehensive.

It makes for interesting reading as it provides useful insights into the key issues that the multilateral trading system and the WTO must square up to if they are both to remain relevant and to continue to act as buttresses for global peace and security.

The report identifies the following as being the key challenges faced by the WTO:

• The wide misrepresentations in civil society discussions of the process of globalisation and the role of the WTO
• The threat to the non-discrimination corner stone of the WTO posed by the spread of preferential trade agreements (FTAs)
• Decision-making within the WTO
• Further reform of the WTO's dispute settlement system.

On the issue of globalisation, the report recognises the impetus that the WTO's freer trade agenda has given to the intensification of the globalisation process and its resulting fall-outs. However, the report is unapologetic. It stresses that the role of the WTO in globalisation is entirely consistent with the institution's underlying rationale that increased trade is conducive to economic prosperity.

In support, it points to a basic fact that those countries that have resorted to trade liberalisation as a pillar of economic growth have grown more strongly and consistently than those that have relied on import substitution policies and protected domestic markets. The report, however, concedes that the WTO must continually do a better job of explaining itself and engaging with civil society. ... (hg.org)

Download The Future of the WTO: Addressing institutional challenges in the new millennium

PDF format, 483KB, 90Pages.

Report by the Consultative Board to the former Director-General Supachai Panitchpakdi

Visit The Future of the WTO: Addressing institutional challenges in the new millennium Download Page

Download by chapter (pdf format):

Foreword (2 pages; 34KB)
Preface (1 page; 31KB)
Consultative Board (1 page; 43KB)
Chapter 1: Globalization and the WTO — the case for the liberalizing trade (10 pages; 87KB)
Chapter 2: The erosion of non-discrimination (9 pages; 88KB)
Chapter 3: Sovereignty (6 pages; 67KB)
Chapter 4: Coherence and coordination with intergovernmental organizations (6 pages; 76KB)
Chapter 5: Transparency and dialogue with civil society (8 pages; 72KB)
Chapter 6: The WTO dispute settlement system (11 pages; 98KB)
Chapter 7: A results-oriented institution — decision-making and variable geometry (8 pages; 72KB)
Chapter 8: A results-oriented institution — political reinforcement and efficient process (4 pages; 58KB)
Chapter 9: The role of the Director-General and Secretariat (6 pages; 67KB)
Conclusions: Principal conclusions and recommendations of the Consultative Board (5 pages; 68KB)
Glossary (2 pages; 43KB)

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