Reforming the World Trade Organization: Challenges and Pathways in 21st Century Global Trade Governance

Zeeshan Aziz; Muhammad Moawiz Malik; Shahzaib Zafar; Abu Bakar; Roha Khalid; Misbah Malik

doi:10.18535/ijsrm/v13i09.lla01

Abstract

The World Trade Organization (WTO) has played a pivotal role in shaping global trade policies since its establishment in 1995. However, the WTO faces numerous challenges in the 21st century, including rising protectionism, geopolitical tensions, digital trade governance, and concerns over environmental sustainability. This study examines the historical context and evolution of the World Trade Organization (WTO), from its origins in the General Agreement on Tariffs and Trade (GATT) to its current role in global trade governance. It highlights key milestones in WTO development, such as the Doha Development Round, and discusses contemporary challenges threatening the organization's effectiveness. This study examines key issues and debates in international trade, including the ongoing tension between trade liberalization and protectionism, the treatment of developing countries, and the balance between intellectual property rights and other factors. To address these challenges, this study proposes several reform pathways for the WTO, including strengthening the dispute settlement mechanism, updating rules for digital trade and emerging technologies, enhancing transparency and inclusivity in decision-making, and addressing environmental and sustainability concerns. The future of global trade governance depends on the WTO's ability to adapt to changing economic and geopolitical realities, and the reforms proposed in this paper have far-reaching implications for international trade and economic development in both developed and developing countries.

Keywords

World Trade OrganizationGlobal trade governanceGeopolitical tensionsDigital tradeTrade liberalizationDispute settlement mechanismEconomic development A

References

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