When should new areas of rules be added to the WTO?

Peter Lloyd

World Trade Review, 2005, vol. 4, issue 2, 275-293

Abstract: When the WTO was created as an outcome of the Uruguay Round, one of the major differences from its predecessor, the GATT, was the addition of new areas of rules of trade. The General Agreement on Trade in Services (GATS), the Agreement on Trade-related Aspects of Intellectual Property (TRIPS), and to some extent also the Agreement on Trade-related Investment Measures (TRIMs) added sets of rules that were entirely new. By adding trade in services, the rules of the multilateral trade organization now encompass trade in all produced goods and services. The WTO rules, however, encompass neither the international movements of capital or labour, nor other non-trade policies, such as those relating to the environment, labour standards, and competition policy, with minor exceptions.

Date: 2005
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