Rutgers Model United Nations 2 - IDIA
Rutgers Model United Nations 13 Developing Eight Countries (D8) in Abuja, Nigeria, the representatives from the US and other developed nations proposed expedited visa arrangements, accelerated multilateral trade agreements, and enhanced corruption-fighting techniques. 40 It is clear that in the modern globalized world international cooperation is paramount to prevent future financial crises. Developed nations seek new trade partners with broader markets for their domestic manufactured goods, while at the same time ensuring the competitiveness of their own agricultural and textile industries. As part of a renewed effort at assisting LDCs, the developed nations are willing to compromise on the Safeguards Clause of the WTO in the current Doha Round negotiations. 41 This clause allows developed nations to impose the tariffs and NTBTs that affect LDCs the most. These safeguards are designed to protect the industries of developed nations when the policy makers feel as though a particular sector is threatened by the comparative advantage of LDCs. 42 Without a comprehensive and streamlined approach to the revision of the Safeguards Clause, as well as other protection strategies, there is little potential for LDCs to escape the vicious cycle of poverty in the near future. World Trade Organization Since the creation of the WTO in 1995, the organization has come to supervise ninety-five per cent of global trade. Reduction of trade barriers, enhanced quality and quantity of trade, as well as broadening the scope of foreign investment are all achievements attributed to the WTO. The current policy of the organization is to promote fair competition, increase predictability of economic trends through transparency, and 40 Fabi, Randy. "Developing Nations Seek to Reduce Trade Barriers." | Top News| Reuters. 06 July 2010. Web. 29 Feb. 2012. . 41 “For the First Time, Members Invoke Article 13.1(b) of the Safeguards Agreement." WTO- Safeguard Measures. Web. 29 Feb. 2012. . 42 "Lamy Underlines WTO’s Role in Reducing Poverty." WTO. 20 Sept. 2010. Web. 29 Feb. 2012. .
Rutgers Model United Nations 14 ensure fair treatment of locals and foreigners. In the words of WTO Director-General Mr. Pascal Lamy: ...and it is because international trade remained open that it is now a leading force in the recovery. According to our most recent estimates, the volume of trade should grow by 13.5 per cent this year, 11 per cent for the developed countries and 17 per cent for the developing countries. The WTO disciplines have given the poorest countries the means to climb more quickly out of the recession. 43 This statement exemplifies the goals of the WTO, and specifies the motivation for the continued efforts of member states. The WTO sees the international community in complete economic harmony as the optimal outcome of its efforts. Particularly, it strives to accelerate economic and infrastructural growth of LDCs via the creation of multilateral FTAs, reduction in tariffs on a broad scale, as well as establishing strict guidelines in the use of NTBTs. 44 With the rapidly growing population and the growing trends of protectionism in developed nations on its agenda, the WTO encourages collaboration between the EIF, developed nations, and LDCs alike. One of the biggest setbacks for the success of the WTO is the lack of law making capabilities, rendering the WTO as little more than an international advising body to the member-states. Although signatories of the organization are required to abide by certain standards, the trade agreements that affect LDCs and developed nations directly are under the jurisdiction of the governments, rather than the WTO specifically. 45 Non-Governmental Organizations (NGOs) The role of NGOs in trade liberalization is traditionally reserved to advisory and monitoring capacities. NGOs have similar goals to the WTO, in that they also strive to achieve economic equality for all nations throughout the world, however their methods vary greatly from those of the WTO. For example Global Hand, in partnership with the EIF takes on the role of regional mediator and advises governments on the most effective 43 Ibid. 44 "Agriculture Negotiations and FTAs." WTO. Web. 29 Feb. 2012. . 45 "The Dark Side Of The WTO." Investopedia. Web. 29 Feb. 2012. .