Fw: WTO to shut down, refound under new charter

Is this legit?

----- Original Message ----- 
From: "World Trade Organisation Public Relations" <communications@gatt.org>
To: "tcomeau45-hotmail.com" <tcomeau45@hotmail.com>
Sent: Thursday, May 23, 2002 6:39 AM
Subject: WTO to shut down, refound under new charter


[NOTE: On May 21, information regarding the WTO's restructuring was released 
prematurely at a special luncheon of CPA Australia, Sydney 
(http://www.aapmedianet.com.au/scripts/DisplayRelease.dll?id=304601). The early 
release of this information, which met with overwhelming approval, has 
accelerated this announcement, originally scheduled for next Friday.]

May 23, 2002
FOR IMMEDIATE RELEASE

WORLD TRADE ORGANIZATION WILL DISBAND, REFOUND UNDER NEW CHARTER

After a protracted and detailed review of current trade policy and its effects 
on developing countries, the World Trade Organization has decided to effect a 
cessation of all operations, to be accomplished over a period of four months, 
culminating in September. The WTO will reintegrate as a new trade body whose 
charter will be to ensure that trade benefits the poor.

As of September, agreements reached under the WTO will be suspended pending 
ratification by the new organization, tentatively referred to as the Trade 
Regulation Organization. Many existing agreements are likely to be re-ratified, 
but each will be subject to individual review for compliance with the TRO's 
charter, which is based upon the Universal Declaration of Human Rights.

The restructuring has come in response to numerous studies 
(http://www.gatt.org/trastat_e/) indicating that current trade liberalisation 
rules and policies have led to increased poverty and inequality, and have 
eroded democratic principles, with a disproportionately large effect on the 
poorest countries.

Under the restructuring, the GATS agreement will be scrapped entirely, and a 
new agreement regulating services will be forged after an assessment of the 
effects of past services liberalisation, and when there has been adequate 
opportunity for governments and civil society to analyse and debate new 
proposals.

In addition, all aspects of TRIPS, TRIMS, AoA, and other agreements will be 
reviewed with humanitarian and other considerations in mind, and will be 
progressively replaced with corresponding versions under the TRO.

Proposals and resolutions for the foundation of the TRO will be evaluated 
beginning in June according to their likelihood of furthering the TRO charter. 
Specifically this will mean redressing the imbalances of existing trade 
agreements; providing access for developing countries to developed countries' 
markets; assessing the effects past trade liberalization and redressing 
problems where possible; and developing an enforceable framework for special 
and differential treatment guaranteeing that development policies are not 
undermined by trade agreements.

The immediate necessity, besides fixing core problems, will be to build a new 
regime of trust among members (notably between HIC and LDC members), with civil 
society organizations (NGOs), and with members of the public. The core goal is 
to establish rules whose priority is t benefit the poor, improve the 
environment, and strengthen democrati principles--in a pragmatic and immediate 
rather than theoretical and longterm sense.

In order to provide greater access to the Least Developed Countries who will 
most benefit from the existence of the TRO, the  organisation's headquarters 
will be moved from their current location in Geneva to the capital of one of 
the LDCs. Proposals for final location are currently being solicited.

CONTACTS:

World Trade Organization Public Relations: communications@gatt.org
CPA Australia Public Relations: barbara.magee@cpaaustralia.com.au

United Nations Universal Declaration of Human Rights:
http://www.un.org/Overview/rights.html

Studies page: http://www.gatt.org/trastat_e/

This release online: http://www.gatt.org/

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