World Trade Organization Notices for Dec 16
The World Trade Organization (WTO) posted the following notices from December 16, 2011 (may have to click twice on source documents for proper viewing):
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- Russia invited to join WTO. On December 16, 2011, Russia cleared the final hurdle to become a WTO member as Ministers adopted Russia’s WTO terms of entry at the 8th Ministerial Conference in Geneva. Russia will have to ratify the deal within the next 220 days (by approximately July 22, 2012) and would become a full-fledged WTO member 30 days after it notifies the ratification to the WTO. (here)
- U.S. & Russia invoke WTO non-application clause. The U.S. and Russia both issued notices invoking Article XIII of the Marrakesh Agreement establishing the World Trade Organization on Non-Application of Multilateral Trade Agreements between Particular Members. According to USTR sources, the U.S. had to invoke this WTO nonapplication clause with respect to Russia (and Russia responded in kind) because current U.S. rules bar Russia from receiving permanent normal trade relations status, which is a WTO requirement. (See ITT's Online Archives 111222xx for summary.) (here) (here)
- Ministers debate WTO's role. Trade Ministers also debated the WTO's role during their talks. Recognizing the impasse of the Doha talks, some called for the organization’s regular committee work to be strengthened and notifications improved. Others urged agreement on regional trade agreements, and some said the WTO should take on new issues such as climate change, exchange rates, and global value chains. (here)