Reforming the WTO: this is a now or never moment
WTO members should find the necessary will and flexibility to lead the organisation out of the current crisis
BusinessEurope is a vocal supporter of multilateral trade and the World Trade Organisation (WTO). Taking stock of current developments that shake the WTO profoundly, with this position paper we would like to contribute to the process of reforming the WTO to render it a more modern and effective organisation.
BusinessEurope President Pierre Gattaz commented: “Over the past years, European business has been ringing the alarm over the WTO’s inability to negotiate and deliver new trade rules. In addition, the WTO is currently facing an unprecedented institutional crisis that risks undermining its unique dispute settlement mechanism.
These concerns need to be addressed and we look deeply into these problems in our paper. We are worried that, unless WTO members sit at the same table and discuss openly, they will not be able to overcome their differences to the detriment of the WTO, businesses, consumers and workers. This is a now or never moment for the WTO.”