WTO as guardian of international competition rules essential for export-oriented industry – extension of e-commerce moratorium positive
Vienna (OTS) – Particularly for an export-oriented country like Austria, fair international competition rules and the opening of markets are essential; here the WTO plays a crucial role as the guardian of the rules-based multilateral trading system. In view of this, it is regrettable that the opportunity for urgently needed major reforms could not be used at the 13th WTO Ministerial Conference. Nevertheless, the decision to continue not to introduce tariffs on digital trade (“e-commerce moratorium”) should be highlighted positively.
Competition in global markets has changed. From the industry’s perspective, it would therefore be essential to adapt the WTO regulations to this new environment. For example, the issue of subsidies that distort competition should come more to the fore. To date, sufficient progress has not been achieved in this area. The blockade of the appellate body of the WTO dispute settlement mechanism also remains in place. The WTO dispute settlement mechanism is an essential instrument for tackling unfair trading practices and is becoming increasingly important against the backdrop of increasing trade disputes.
To ensure fair competition, the same rules are needed for all market participants and clear sanctions for violations. The WTO urgently needs to be adapted to the new world situation in order to ensure an effective multilateral trading order for the future.
Questions & Contact:
Industrial Association
Marlena Mayer
Press spokesperson
+43 (1) 711 35-2315
marlena.mayer@iv.at
https://iv.at/