WTO launches new database on preferential trade arrangements
The World Trade Organisation (WTO) on March 14, 2012 launched a new publicly available database on non-reciprocal preferential schemes.
This is after four years of negotiations and a year of work by WTO members on implementation measures and data collection, said the organization in a statement.
The Transparency Mechanism for Preferential Trade Arrangements (PTA) is a WTO agreement concluded in December 2010 which aims to increase members’ and the public’s understanding about the legal nature, history and background of each preferential trade arrangement (PTA), the range of products covered and the types of preferential treatment offered.
Each PTA also features lists of those countries eligible to receive preferential market access, according to the WTO.
The statement indicated that the Transparency Mechanism and the PTA database reflect the WTO’s continuing efforts and broader aim to enhance transparency in trade policy.
By Ekow Quandzie