JEL Classifications: K33; J51
CHALLENGES FACED BY THE WTO’S ECONOMIC SYSTEM IN TRADE IN SERVICES NEGOTIATIONS Author: Nino Parsadanishvili
| Published: 2019-12-27
| Pages: 121 - 125
For Citation: Parsadanishvili, N. (2019). Challenges Faced by the WTO’S Economic System in Trade in Services Negotiations. Globalization And Business, #8, pp. 121-125
Present paper focuses on current crises in international trade in services negotiations from the perspective of consideration of trading interests of developing and least developed countries in line with the operational agenda of the World Trade Organization (WTO). Through the analysis of the existing international legal texts and scholarly works particular attention is paid to the different rounds of trade in services negotiations in parallel to the consideration of the results of relevant ministerial conferences of the World Trade Organization, drawing attention to the situation with regards of consideration of the interests of developing and least developed country members of the WTO. Special focus is paid to the complexity of the decision making process and it’s complication over time due to increased participation of parties concerned in the process of trade in services negotiations resulting in no progress in the overall process. Next to analyzing the challenges faced by the WTO in trade in services negotiations, especially in terms of considering the interests of developing and least developed countries, paper shows the ways that could be used during 2020 Kazakhstan Ministerial Conference of the World Trade Organization for finding solutions to simplify the decision making process and establish freer international trade in services by the way of either implying new approaches in interpreting the existing multilateral treaties that deal with trade in services between all member states of the WTO or deepening the discussions on a new plurilateral agreement helping the organization to overcome the stagnated process of trade in services negotiations and therefore ensuring the compliance with it’s own operational goals.
WTO, TRADE, SERVICES, DEVELOPING AND LEAST DEVELOPED COUNTRIES.
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