The World Trade Organization (WTO) plays a key role in the adjudication of multilateral trade agreements and their implementation and enforcement, but has been left playing a less dynamic role in recent years – with the failure so far of the Doha Round – in the negotiation of major multilateral deals. It secured the Bali trade facilitation deal recently with helpful customs progress, but even that was a somewhat tortuous process.
Bilateral, plurilateral and issue-specific deals are therefore filling the negotiations void left by the WTO. These are aimed at driving progress and helping to prevent any nascent protectionism. The EU and US have both concluded deals with Korea. And the EU with Canada and with Singapore and, on goods for example, with the East Africa Community (EAC). Read more. Source | Naija247news