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Trade in Goods
RULES - Rules Negotiations
Regional Trade Agreements (RTAs)
Regional Trade Agreements (RTAs)
have become a very prominent feature of the
Multilateral Trading System (MTS) in recent years.
There has been a surge in the number of RTAs since
early 1990s. About 380 RTAs have been notified to
the GATT/WTO up to July 2007. Of these, 300 RTAs
were notified under Article XXIV of the GATT 1947 or
GATT 1994; 22 under the Enabling Clause; and 58
under Article V of the GATS. 205 Agreements were in
force as on July 2007.
New
Transparency Mechanism for RTAs
The General Council of WTO has recently established
transparency mechanism for RTAs. The mechanism of
new transparency has been established on a
provisional basis on 14th December, 2006. The
decision is contained in WTO document WT/L/671 dated
18th December, 2006. The salient aspects of the
new Transparency Mechanism are :-
· The new transparency mechanism provides for
early announcement of any RTA and notification to
the WTO.
· Members will consider the notified RTAs on
the basis of a factual presentation by the WTO
Secretariat.
· The Committee on Regional Trade Agreements
(CRTA) is entrusted with the implementation of
Transparency Mechanism for RTAs falling under
Article XXIV of General Agreement on Tariffs and
Trade (GATT) 1994 and Article V of the General
Agreement on Trade in Services (GATS).
· The Committee on Trade and Development (CTD)
will look after the implementation of Transparency
Mechanism of RTAs falling under paragraph 2(c) of
the Enabling Clause (trade arrangements between
developing countries).
· The transparency mechanism is to be
implemented on a provisional basis. Members will
review, and if necessary modify, the decision, and
replace it by a permanent mechanism adopted as part
of the overall results of the Doha Round. Members
will also review the legal relationship between this
mechanism and relevant WTO provisions related to
RTAs. |
Trade
