28 Feb 2022
WTO's Trade Policy Review Mechanism - Indian experience & best practices!
Article by MILE 22 student Anurag Sehgal published on Research Gate (2022)
Maintaining effective transparency is an important objective of the World Trade Organization [WTO] as it reduces the asymmetry of information and thereby plays an important role in the decision-making processes. One of the prinicpal instruments to enforce transparency in the WTO context is the Trade Policy Review Mechanism [TPRM].
As per Marrakesh Agreement establishing the WTO, “The purpose of the TPRM is to contribute to improved adherence by all Members to rules, disciplines and commitments made under the Multilateral Trade Agreements and, where applicable, the Plurilateral Trade Agreements, and hence to the smoother functioning of the multilateral trading system, by achieving greater transparency in, and understanding of, the trade policies and practices of Members."
The TPRM is thus designed to act as an evaluation tool of individual members’ trade policies and is carried out at regular intervals.
You can read the full paper by clicking on the link below.