WTO website to improve trade monitoring for countries and companies
The World Trade Organisation (WTO) launched its new trade-monitoring database earlier this month. It provides detailed information on trade policy measures implemented by WTO members and observers since October 2008. The database can be accessed through the WTO website.
The trade policy data is taken from regular trade-monitoring reports, prepared by the WTO secretariat and is submitted to the relevant WTO member for confirmation. Unconfirmed reports are clearly indicated on the database.
The database will be updated each time a new trade-monitoring report has been discussed by WTO members. The most recent update was completed in October last year and the next is expected at the end of July.
The information contained in the database can be displayed in several ways, including by country, the country or countries affected by the trade ‘rule‘ in place, the type of measure and the products affected.
The trade policy data aims to enhance the transparency of trade policy developments worldwide, to provide WTO members and observers with up-to-date information on trends in the implementation of trade liberalising between countries and on trade-restricting measures, particularly in times of economic crisis when protectionist pressures tend to surge.
The WTO is a forum for governments to negotiate trade agreements and to settle trade disputes.
Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. These documents provide the legal ground rules for international commerce. They bind governments to keep their trade policies within the agreed limits to help producers of goods and services, exporters and importers conduct their business, while enabling governments to meet social and environmental objectives.
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