Where were you 30 years ago, on Friday, April 15, 1994? By the way, if you have been holding on to your old 1994 calendar, you will be able to reuse it in 2033. This is based on the assumption that you are not interested in the dates for Easter and other irregular holidays.
Unless it was your actual birthday, there were no significant events on April 15, 1994. But there was one that took place on that day and was attended by 123 nations.
The event was the signing of the Marrakesh Agreement, manifested by the Marrakesh Declaration, which marked the culmination of the eight-year-long Uruguay Round of Negotiations, resulting in the establishment of the World Trade Organisation (WTO), which officially came into being on January 1, 1995. The WTO is widely recognised and acknowledged as the foundation of today’s rules-based international trading system.
The Marrakesh Agreement developed out of the General Agreement on Tariffs and Trade, supplemented by a number of other agreements on issues including trade in services, sanitary and phytosanitary measures, trade-related aspects of intellectual property and technical barriers to trade, while establishing more efficient and legally binding means of dispute resolution. The agreement is unique in that it combines the various agreements that constitute it as an ‘indivisible whole’, which is exemplified by its credo: ‘Nothing is agreed until everything is agreed’.
Celebrating and commemorating the day, WTO director-general Ngozi Okonjo-Iweala stated that the 123 nations that signed the Marrakesh Agreement in 1994 “created a new global public good, one committed to using trade to raise people’s living standards, create jobs and promote sustainable development”.
She continued: “Countries have used the open and predictable global economy anchored in the WTO to accelerate growth and development. Over the past three decades, more than 1.5-billion people have been lifted out of extreme poverty, embodying the enduring promise encapsulated in the Marrakesh Agreement. As we mark the thirtieth anniversary of the WTO, this promise still stands as a beacon. The WTO now [has] 164 – soon to be 166 – members. The way we do business across borders has evolved. So have the challenges to sustainability and socioeconomic inclusion. But trade remains a vital tool to solve these challenges and build a brighter future for people around the world.”
To mark the occasion, the WTO has set up a dedicated web page, aptly named ‘The spirit of Marrakesh’, which is accessible at https://www.wto.org/english/thewto_e/30y_e/30y_e.htm.
On the landing page, it proclaims: “The Marrakesh Agreement establishing the WTO was signed on April 15, 1994, leading to the birth of the WTO on January 1, 1995. For the past 30 years, the WTO has made a major contribution to the strength and stability of the global economy, helping to boost trade growth, resolve trade disputes and support the integration of developing economies into the trading system.”
As we know, after the age of 30, our metabolism – the rate at which our bodies burn calories – starts to slow, which opens the door to weight gain. As hpps:/www.premierhealth.com so eloquently reminds us, there are several things to consider when scheduling an annual physical examination: make depression screening part of your annual physical; do not skip screenings; stay physically active; if you have not been physically active, start slow; eat well, drink well; water intake is an important part of good nutrition; find your release valve; just quit smoking; rest well; and get your family involved.
And herein lies the truth for the WTO too – well, maybe with quit smoking being the exception. It is not in dispute that the WTO’s metabolism has slowed. With too much regularity, the argument is being forwarded that the WTO is no longer relevant in a world of geopolitical competition, and also considering the urgency around the climate transition. As a seemingly deflective response, there is the grasp at the supposed future-proofing which apparently necessitates ongoing dialogue, adaptation and institutional reform to remain relevant.
Perhaps it’s apt to remind the WTO that “age will not bring you wisdom if the majority of your experience through life is repetitive, monotonous and virtually unchanging”.