The World Trade Organization and Less-Developed Countries

This lecture explored the multifaceted role of the World Trade Organization (WTO) in shaping development outcomes for less-developed countries (LDCs). It began with an introduction to the WTO’s mission and its influence on global trade policies, particularly those affecting LDCs. The session delved into the concept of Special and Differential Treatment (SDT), examining its provisions, intended benefits, and ongoing debates about its effectiveness. The Generalized System of Preferences (GSP) was also discussed as a key mechanism for promoting trade opportunities for LDCs, along with its economic implications.
A significant portion of the lecture was dedicated to the Aid for Trade initiative, highlighting its origins, objectives, implementation strategies, and the challenges it faces in addressing trade-related constraints in LDCs. The lecture also covered recent developments in WTO agreements, including the Investment Facilitation Agreement and the Fisheries Subsidies Agreement, analyzing their potential impacts on sustainable development and the economic interests of LDCs. The session concluded by reflecting on the WTO’s evolving role in supporting or hindering development goals and identifies key areas for future policy innovation and reform.