NP Fwd: WTO to shut down, refound under new charter

[Doug Millison]

>Date: Thu, 23 May 2002 06:40:54 -0400 (EDT)
>From: World Trade Organisation Public Relations <communications at gatt.org>
>Subject: WTO to shut down, refound under new charter
>Sender: communications at gatt.org
>Status:  U
>
>[NOTE: On May 21, information regarding the WTO's restructuring was
>released prematurely at a special luncheon of CPA Australia, Sydney
>(http://www.aapmedianet.com.au/scripts/DisplayRelease.dll?id=304601).
>The early release of this information, which met with overwhelming
>approval, has accelerated this announcement, originally scheduled for
>next Friday.]
>
>May 23, 2002
>FOR IMMEDIATE RELEASE
>
>WORLD TRADE ORGANIZATION WILL DISBAND, REFOUND UNDER NEW CHARTER
>
>After a protracted and detailed review of current trade policy and its
>effects on developing countries, the World Trade Organization has
>decided to effect a cessation of all operations, to be accomplished
>over a period of four months, culminating in September. The WTO will
>reintegrate as a new trade body whose charter will be to ensure that
>trade benefits the poor.
>
>As of September, agreements reached under the WTO will be suspended
>pending ratification by the new organization, tentatively referred to
>as the Trade Regulation Organization. Many existing agreements are
>likely to be re-ratified, but each will be subject to individual
>review for compliance with the TRO's charter, which is based upon the
>Universal Declaration of Human Rights.
>
>The restructuring has come in response to numerous studies
>(http://www.gatt.org/trastat_e/) indicating that current trade
>liberalisation rules and policies have led to increased poverty and
>inequality, and have eroded democratic principles, with a
>disproportionately large effect on the poorest countries.
>
>Under the restructuring, the GATS agreement will be scrapped entirely,
>and a new agreement regulating services will be forged after an
>assessment of the effects of past services liberalisation, and when
>there has been adequate opportunity for governments and civil society
>to analyse and debate new proposals.
>
>In addition, all aspects of TRIPS, TRIMS, AoA, and other agreements
>will be reviewed with humanitarian and other considerations in mind,
>and will be progressively replaced with corresponding versions under
>the TRO.
>
>Proposals and resolutions for the foundation of the TRO will be
>evaluated beginning in June according to their likelihood of
>furthering the TRO charter. Specifically this will mean redressing the
>imbalances of existing trade agreements; providing access for
>developing countries to developed countriesí markets; assessing the
>effects past trade liberalization and redressing problems where
>possible; and developing an enforceable framework for special and
>differential treatment guaranteeing that development policies are not
>undermined by trade agreements.
>
>The immediate necessity, besides fixing core problems, will be to
>build a new regime of trust among members (notably between HIC and LDC
>members), with civil society organizations (NGOs), and with members of
>the public. The core goal is to establish rules whose priority is to
>benefit the poor, improve the environment, and strengthen democratic
>principles--in a pragmatic and immediate rather than theoretical and
>longterm sense.
>
>In order to provide greater access to the Least Developed Countries
>who will most benefit from the existence of the TRO, the
>organisation's headquarters will be moved from their current location
>in Geneva to the capital of one of the LDCs. Proposals for final
>location are currently being solicited.
>
>
>CONTACTS:
>
>World Trade Organization Public Relations: communications at gatt.org
>CPA Australia Public Relations: barbara.magee at cpaaustralia.com.au
>
>United Nations Universal Declaration of Human Rights:
>http://www.un.org/Overview/rights.html
>
>Studies page: http://www.gatt.org/trastat_e/
>
>This release online: http://www.gatt.org/
>
>                             # 30 #