Small States In The Multilateral Trading System

Developing countries, including as small states and least developed countries (LDCs), continue to face significant challenges within the global trading system. Action is required to allow them to overcome disadvantages and achieve sustainable levels of income from trade. This study provides a fresh perspective on how measures can be taken to enhance the participation of small states, many of which are Commonwealth countries, in the multilateral trading system. It contributes to the ongoing general debate about reforming the World Trade Organization and global trade governance.

At a pivotal point in the history of the WTO, when development issues are at the heart of negotiations, how the larger and more powerful members address the legitimate concerns of its poorest and most vulnerable members will shape the perception of the institution throughout the century. This book aims not only to document almost ten years of experience of small states with the WTO but also to explain this experience. It takes an evidential theory approach to explaining the features characteristic to the trade and economic development of small island states. It then highlights the issues of concern to these states in relation to negotiations at the WTO. The experience of the African Caribbean and Pacific (ACP) countries with the WTO dispute settlement mechanism is discussed, and the book ends with a discussion of key negotiating issues for the island states and institutional arrangements to facilitate reform.

Smaller nations have a special place in the international system, with a striking capacity to defy the expectations of most observers and many prominent theories of international relations. This volume of classic essays highlights the ability of small states to counter power with superior commitment, to rely on tightly knit domestic institutions with a shared "ideology of social partnership," and to set agendas as "norm entrepreneurs." The volume is organized around themes such as how and why small states defy expectations of realist approaches to the study of power; the agenda-setting capacity of smaller powers in international society and in regional governance structures such as the European Union; and how small states and representatives from these societies play the role of norm entrepreneurs in world politics -- from the promotion of sustainable solutions to innovative humanitarian programs and policies..

The publication provides historical and up-to-date insights into how reform can be transformational and progressive in nature and broadens the debate by focusing not only on new pathways for decision-making but also on important issues such as the environment and the SDGs. Finally, it highlights the importance of keeping the multilateral trading system alive for the benefit of all states, particularly for small states, Least Developed Countries and sub-Saharan African countries. WTO Reform: Reshaping Global Trade Governance for 21st Century Challenges, is designed to serve as a valuable resource for government officials, trade negotiators, journalists, academics and researchers who are attempting to sort through the complexities of the organisation and the role they can play in supporting a fairer, more inclusive WTO and multilateral trading system.

A Brookings Institution Press and the Center for Business and Government at Harvard University publication The multilateral trading system stands at a crossroads. Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. These essays by leading scholars and trade officials honor Raymond Vernon, one of the architects of the international economic institutions established following the Second World War. The book examines several key issues at the heart of the debate over the multilateral trading system. What are the global efficiency gains from further liberalization? How can efficiency gains be maximized while respecting legitimate claims to sovereignty? Is the trading system affording an equitable distribution of benefits between countries and among various groups within societies? Does civil society have a role in the trading system? What role should the World Trade Organization and its dispute settlement procedures play in resolving disputes and enhancing legitimacy?

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The book contains fifty-four tables covering selected economic, social, demographic and Millennium Development Goal indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation, human development, and economic policy, permits a deeper understanding of developments behind the figures.

This book explores bilateral and regional trade agreements, and examines how they are changing international trade rules. It offers an important contribution to the current debate on the role of the WTO in regulating international trade and how WTO rules relate to new rules being developed by regional trade agreements.