Skip to main content Accessibility help
×
Hostname: page-component-7479d7b7d-qs9v7 Total loading time: 0 Render date: 2024-07-12T13:20:48.519Z Has data issue: false hasContentIssue false

Conclusion

Published online by Cambridge University Press:  10 September 2020

Get access

Summary

The importance of trade to countries is two-fold: one, it provides a country with income; and two, it directly provides a country's citizens with income as well. In a sense, facilitating access to markets is the best form of direct investment a country can undertake towards its socio-economic development.

Throughout this work, we have emphasised that trade is instrumental to a people's socio-economic development. We started first with a review of trade and development at the WTO. The emphasis was on understanding the exact nature of the Organisation in order to provide a preliminary foundation for future consideration of what the WTO can and cannot do for its developing country Members. When we examined the classifications by international organisations on development status, it was clear that the international community through these various organisations understands that the principal element of ‘developing country’ status is the level of poverty and the limited capacity for individual growth and opportunity. These are elements which motivated the world trading system even from the time of the GATT, to lay out provisions in the international trade rules to address the challenges of developing country participation in organised global trade.

Developing country integration however has faced and still continues to face teething problems. Apart from the general barriers experienced across the global market which a uniform rules-based system was expected to resolve, developing countries’ circumstances have not been improved in the face of challenges like the inequalities in trading power, internal constraints, an everexpanding body of rules, and the single undertaking requirement which demands commitment to every single WTO rule irrespective of the capacity to execute the obligations therein. In addition, we also argued that the application of the comparative advantage theory to the modern market is more of a constraint than a true reading of the political economy of the times. Current action under the Doha Development Agenda in spite of the renewed activity at the WTO Secretariat which carries out administrative functions even in the provision of technical assistance is not moving as swiftly as it should especially with the protraction of the Doha Round.

Type
Chapter
Information
The WTO and its Development Obligation
Prospects for Global Trade
, pp. 149 - 154
Publisher: Anthem Press
Print publication year: 2010

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×