Posted: 01.03.2024 13:43:00

Opinion: WTO does not fulfil its functions

The Parliament of Latvia adopted amendments to the law banning agricultural imports from Belarus and Russia for domestic consumption. The ban also applies to products coming from third countries if they are produced within the Union State. Political scientist Piotr Petrovsky commented on how such actions affect global trade and why the World Trade Organisation (WTO) keeps silence.

"The World Trade Organisation, despite its statutory requirements, does not perform today all the necessary functions to ensure the sustainable operation of the world trade mechanism. There are trade wars between countries, and protectionist tactics are intensifying. WTO itself has turned into a museum exhibition organisation, which has lost the opportunity to protect the mechanisms of the global trade market from negative processes and – most importantly – from unfair competition. Therefore, in the current situation of aggravation of international relations in general and dynamic polarisation of the world, the time has come to consider the possibilities of creating free trade mechanisms within the framework of the collective East. The EAEU, SCO, BRICS and other consolidating organisations can act as starting points in this regard. On their basis, it is possible to reorganise the mechanisms that have lost their strength much faster, enabling them to work in the interests of national states. Obviously, in such a situation, joining such an organisation and complying with its numerous norms and rules is absolutely unprofitable for Belarus. Indeed, why take measures that are sometimes painful for our economy if there is no prospect ahead? Therefore, as they say, the game is not worth the candle,” explained the expert.