WTO : Trade Policy Review Mechanism – UPSC Prelims

  • The Trade Policy Review Mechanism (TPRM) was an early result of the Uruguay Round.
  • It is the main transparency instrument of the WTO, affording opportunities for a process of collective evaluation of the trade policies and practices of individual members.
  • Facilitating the smooth functioning of the multilateral trading system by enhancing the transparency of Members’ trade policies.
  • To examine the impact of a Member’s trade policies and practices on the multilateral trading system.
  • The reviews take place in the Trade Policy Review Body which is actually the WTO General Council — comprising the WTO’s full membership — operating under special rules and procedures.
  • The trade policy review allows members to put the overall trade and economic policies of a country under the scanner.
  • The trade policies of developing countries are taken up for review every four years while developed ones face similar scrutiny every two years.
  • The mandate of the TPRM was broadened to cover services trade and intellectual property.
  • All WTO Members are subject to review under the TPRM.
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