The World Trade Organization ( Wto ) And The Single Undertaking Rule

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Introduction This research paper centres on the World Trade Organization (WTO) and the single undertaking rule. I will start this paper by giving a brief introduction of the World Trade Organization, its membership, functions and structure and its way of operation. Further, I will give a concise introduction on the Single Undertaking rule before asserting my view on the effect the Single Undertaking Rule in the WTO. I will go into great lengths to explain why I believe the removal of this rule would lead to a more effective WTO and multilateral trading system. To support my view, I will briefly explain the single undertaking rule’s history and practice in the WTO; point out the reasons why the rule has a more adverse effect; how it leads…show more content…
By joining the WTO, countries sign over a certain degree of their sovereignty to be under the WTO rules and regulations. They agree to be bound by the rules and regulations agreed upon at the negotiation rounds and cannot create national policies that contradict their obligations. The WTO comes about its rules through rounds of negotiations on certain trade topics or subjects until an agreement is reached upon. The latest completed round of negotiations was the Uruguay Round in 1994, which was predicted to influence world growth and development for decades to come and to have brought about the biggest reform of the world 's trading system since GATT was created . The Single Undertaking Rule, its History and its Purpose (Benefits) The Single Undertaking Rule is a concept of decision making adopted by the WTO where the WTO Agreement in its entirety is binding upon all signatory member states. The negotiations process that leads to an agreement is described as a “single undertaking”. This means the parties come together to deliberate on a number of trade aspects, to be signed by each country with a single signature without any option to pick and choose between different subjects. The Single Undertaking Rule is a relatively new concept in the international multilateral trade system. This rule did not exist under the old GATT and was introduced in the commencement of the Uruguay Round . Under the old GATT system, contracting parties were
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