From sunshine to a common agent : the evolving understanding of transparency in the WTO

Abstract

The role of the World Trade Organization (WTO) is often thought to be twofold—conducting formal rounds of negotiations and resorting to the dispute settlement system—but the third dimension of its work, which can be broadly grouped as transparency and accountability mechanisms, may be the most important. Transparency is part of the WTO’s DNA, and can be traced at least through the 1947 GATT back to a 1923 treaty on customs cooperation. This essential element of WTO institutional design illuminates trade policy practices to the benefit of both governments and traders. The WTO’s twentieth anniversary is an appropriate moment to describe the impressive evolution of its transparency mechanisms, assess the effectiveness of these mechanisms, and reflect on what more must be done if the WTO is to fulfill its potential as the central institution for governing the global trading system.