Posted on December 18, 2020 in
Written by: David B. Honig
On April 12, 2019, the Trade Policy Review Mechanism (TPRM) celebrates its 30th anniversary. The TPRM was created to raise awareness of national trade policies and is one of the main channels used by the WTO to promote accountability, predictability and transparency – the core values of the multilateral trading system. As part of a review, the WTO secretariat draws up an independent report on the trade policy and practice of the member concerned. The member also prepares his own report. At a TPRB meeting, WTO membership reviews these reports. The audited member answers questions about his business policies and practices. The reports are available to the public on the WTO website under the symbol “WT/TPR.” The trade policy review mechanism was an early result of the Uruguay Round, which was tentatively put in place during the mid-term review of the cycle in Montreal in December 1988. Appendix 3 of the Marrakesh Agreement, concluded by ministers in April 1994, placed the PRP on a sustainable basis as one of the core tasks of the EEGs and, with the entry into force of the WTO in 1995, the mandate of the TPRM was extended to trade in services and intellectual property. The Conference will focus on the role of the procedure in ensuring the effective functioning of the multilateral trading system, ensuring greater transparency, accountability and global oversight. Access to the full content of Oxford Handbooks Online requires a subscription or purchase. Public users can browse the website and view the abstracts and keywords of each book and chapter without a subscription.
The last revision of U.S. trade policy took place in June 2008. From its inception in 1998 until the end of 2009, the TPRM will have conducted 305 audits, representing 136 members out of 153 and representing about 97% of world trade. Members recognize the intrinsic value of national transparency in government decision-making on trade policy issues, both for Member States` economies and for the multilateral trading system, and agree to encourage and promote greater transparency within their own systems, while recognizing that the implementation of national transparency must be voluntary and take into account each member`s legal and political systems. Raymundo Valdés is a member of the WTO`s Trade Policy Control Department. WTO decisions on the TPRM are contained in the WTO`s Analytical Indexes of Law and Practice Guide Following an amendment to Schedule 3 in July 2017, these review cycles will last three, five and seven years, respectively, from 1 January 2019. Research Papers Online Trade Policy Reviews Use the WT/TPR code and press releases PRESS/TPRB/ (where ` takes additional values`) These links open a new window: allow a moment for results to appear. The TPR is conducting an evaluation of the operation of the MRP no later than five years after the WTO agreement enters into force. The results of the evaluation will be presented at the Ministerial Conference. It can then make compensation to the TPRM at intervals it requests at the ministerial conference. The audits are carried out by the Trade Policy Supervisory Body (TPRB) on the basis of a statement of principle from the member under review and a report prepared by the economists of the secretariat`s trade policy review division.