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Maintaining the WTO's Supremacy in the International Trade Order: A Proposal to Refine and Revise the Role of the Trade Policy Review Mechanism

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  • Julien Chaisse
  • Mitsuo Matsushita

Abstract

In light of the stagnating World Trade Organization (WTO) negotiations, this article argues that WTO should not only focus on the development of new rules or the resolution of disputes, but should also develop 'soft law' on the basis of informal mechanisms as the successful experiences of the International Competition Network or the International Monetary Fund demonstrate. In this respect, WTO should extend and refine the role of its Trade Policy Review Mechanism (TPRM) in order to be able to address essential issues of contemporary economic concerns and, hence, remain at the centre of global governance. This article explains how the TPRM role should be refined and revised with a view to cover key areas of international trade governance, such as harmonization and coordination of preferential trade agreements as well as convergence of measures dealing with greenhouse gas emissions and other environmental policies which are two key issues questioning the WTO's supremacy in the international trade order. The Author 2013. Published by Oxford University Press. All rights reserved., Oxford University Press.

Suggested Citation

  • Julien Chaisse & Mitsuo Matsushita, 2013. "Maintaining the WTO's Supremacy in the International Trade Order: A Proposal to Refine and Revise the Role of the Trade Policy Review Mechanism," Journal of International Economic Law, Oxford University Press, vol. 16(1), pages 9-36, March.
    • Handle: RePEc:oup:jieclw:v:16:y:2013:i:1:p:9-36
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    File URL: http://hdl.handle.net/10.1093/jiel/jgs043
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    Cited by:

    1. Gnangnon, Sèna Kimm, 2022. "Duration of the Membership in the World Trade Organization and Aid for Trade Flows," EconStor Preprints 260562, ZBW - Leibniz Information Centre for Economics.
    2. Gnangnon, Sèna Kimm, 2022. "Effect of the Duration of Membership in the GATT/WTO on Human Development in Developed and Developing Countries," EconStor Preprints 265061, ZBW - Leibniz Information Centre for Economics.
    3. Sandar Oo & Zin Zin Naing, . "Expected Outcomes from the Bali Ministerial Conference: The view from Myanmar," Chapters, in: Yoshifumi Fukunaga & John Riady, Pierre Sauve (ed.), The Road To Bali: ERIA Perspectives on the WTO Ministerial and Asian Integration, chapter 11, pages 124-136, Economic Research Institute for ASEAN and East Asia (ERIA).
    4. Gnangnon, Sèna Kimm, 2022. "Effect of the duration of membership in the World Trade Organization on Trademark Applications," EconStor Preprints 253266, ZBW - Leibniz Information Centre for Economics.
    5. Chaisse, Julien & Hamanaka, Shintaro, 2014. "The Investment Version of the Asian Noodle Bowl: The Proliferation of International Investment Agreements," Working Papers on Regional Economic Integration 128, Asian Development Bank.

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