Call for Special Issue on Global Trade and WTO


Proposal for Papers:

Linking the economies with global world has become imperative for all countries of the world and this process is called globalization. Accordingly, world has become one village. Hence, free movement of goods and services is become the need of the hour. Creation of trade opportunities and their felicitation always require planning and regulation. Financing exports through imports is being considered as a major vehicle for promotion of world trade. China is the most appropriate instance in this regard. It is firmly believed that gains arising out of the world trade should be shared by all the countries of the world irrespective of members of the WTO.
The Second World War had created two forums namely- General Agreement on Tariffs and Trade (GATT) which was known as “rich countries club “and United Nations Conference on Trade and Development (UNCTAD) called as “Poor countries club” Both the organizations had failed in playing their respective role in regulating and promoting world trade for which these intuitions had been created. The result was that global trade had not witnessed the significant expansion of trade opportunities among the members’ countries in particular and other non member countries in general. Therefore, it had been realized by developed and developing countries that the role of global trade should be expanded, and accordingly, GATT had been replaced by World Trade Organization (WTO) on January 1, 1995. The very purpose of the transformation of GATT into WTO was to create fair and equitable machinery for overseeing the implementation of agreements, monitoring and surveillance, capacity building and dispute settlement, which were missed under GATT so that the world trade could be properly and effectively created more opportunities and facilitated them in the right perspective and direction.
What is immediately needed is that the evaluation be made in terms of existence of WTO and its role and contribution to the world trade. There is also a need to examine critically how WTO has been successful in attaining its objectives as well as how the WTO performing its functions?
In order to promote multilateral trading system which is under danger (new concept of regionalism is coming up), the role and contribution of WTO is of strategic importance.


Posted: 2018-04-10 More...

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