Intellectual Property Watch: Outdated Multilateral Trade System Challenged By Climate Change, Regionalisation, Speakers Say - by Catherine Saez

For the complete report from the Intellectual Property Watch click on this link

Climate change measures might impact competitiveness and the multilateral trade system in its current form might not be equipped to address the issue, according to speakers at a parallel event to the World Trade Organization (WTO) ministerial meeting today. At the same time, regional trade agreements might constitute free electrons in the multilateral trade system, obeying to their own rules, said speakers at other sessions of the event. The International Center for Trade and Sustainable Development is holding the Geneva Trade and Development Symposium, convening stakeholders to discuss a variety of issues such as climate change, competitiveness, agriculture, strengthening the multilateral system, the Doha Development Round, and patents and clean energy.

The future trend might be a proliferation of preferential agreements between large countries. The European Union has agreements with China, with Japan, for example and the “US are not going to sit idle,” he said. If that trend is confirmed, the multilateralism could be subject to further erosion.