Course-19 International Business Environment WTO ministerial conference held in 2011 Opportunities and threats.

. Introduction Ministerial Conferences The topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions. The Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements. The WTO recognizes as least-developed countries (LDCs) those countries which have been designated as such by the United Nations. There are at present 48 LDCs on the UN list, 31 of which are members of the WTO and another 12 countries are in various stages of the accession process. WTO members recognize that LDCs need special treatment and assistance for their development. WTO agreements include provisions aimed at increasing LDCs trade opportunities through market access; provisions requiring WTO Members to safeguard the interest of developing countries; provisions allowing LDCs flexibilities in the implementation of WTO rules and commitments, including longer implementation periods; and provisions for technical assistance. The special and differential treatment (S&D) provisions are contained in WTO agreements to give developing countries, in particular least developed countries, special rights and which give developed countries the possibility to treat developing countries more favourably than other WTO Members. In the area of dispute settlement, poor and small WTO members face welldocumented challenges of ensuring that larger trading partners adhere to their commitments under WTO agreements. LDCs, African countries and SVEs often face acute shortages of legal capacity, which in turn reduces their ability to use the WTOs Dispute Settlement Mechanism. They lack the resources to regularly survey foreign markets for violations of WTO rules that harm their interests and to identify disputes they could beneficially pursue. Moreover, even if LDCs

and SVEs are able to mount and win a case, they have few prospects for retaliation or cross retaliation. Except in very specific cases, the deterrent effects of potential threats to development assistance and fears of informal political or trade retaliation limit the feasibility of small countries using either retaliation or cross retaliation Conclusion The forthcoming Ministerial Conference is an opportunity that governments can seize to boost the responsiveness of the WTO to its poorest and most vulnerable members. Key achievable outcomes and commitments can be made in each of the three areas where ministers have been asked to provide political guidance; these would in turn set the stage for work in the next biennium. The Ministerial is also a time for ministers from LDCs, SVEs and Sub-Saharan African countries to clearly articulate their priorities and to take measures among themselves so they can bolster their engagement. References www.wto.org www.thecommonwealth.org