News:The US President has accused China of taking advantage of the US through the World Trade Organisation(WTO) saying that if China is considered a ‘developing country’, the US should be called one too.
Developing Country Status in WTO:
- There are no WTO definitions of developed and developing countries. Members announce for themselves whether they are developed or developing countries.
- However, other members can challenge the decision of a member to make use of provisions available to developing countries.
Benefits:The WTO Agreements contain Special and Differential Treatment (S&D) provisions which give developing countries special rights which include:
- Longer time periods for implementing Agreements and commitments,
- Measures to increase trading opportunities for developing countries,
- Provisions requiring all WTO members to safeguard the trade interests of developing countries,
- Support to help developing countries build the capacity to carry out WTO work, handle disputes and implement technical standards among others.