Proposed WTO reform aims to bully developing nations: Civil society members 

News: The ‘WTO Reform’ proposal has been pushed in the 12th Ministerial Conference (MC12) of the World Trade Organisation (WTO). However, the proposed reforms are said to weaken the position of the developing countries.

What are the issues in the proposed WTO reforms?
As per some experts, the reforms may undermine the participation and say of the developing countries:

First, the proposed agenda will undermine the fundamental WTO principles of consensus and multilateralism. It will favour plurilateralism and create differentiation among developing countries.

Second, instead of addressing serious flaws within the existing harmful WTO rules, the new ‘reform’ will end up producing a framework which will be pro-corporate, and pro-developed countries. The richest nations and the global corporations will have complete control over the WTO.

Third, the reforms will subvert the key principles of WTO, which are: One nation one vote, decisions by consensus and ‘special and differentiated treatment’ to protect developing country interests.

Fourth, it will lead to permanently abandoning the mandated, long-unresolved issues of the development agenda. It will attack developing countries’ ability to access flexibilities enshrined in the WTO.

Source: The post is based on an article “Proposed WTO reform aims to bully developing nations” Civil society members” published in the Down to earth on 13 June 2022.