OVERVIEW OF DEVELOPMENTS IN THE

INTERNATIONAL TRADING ENVIRONMENT

MINUTES OF THE MEETING

9 December 2016

Chairperson: Ms. Irene Young (Hong Kong, China)

INTRODUCTORY REMARKS BY THE CHAIRPERSON

1.       Good afternoon and welcome to this meeting of the TPRB, which was convened by Airgram on 16 November.

2.       The purpose of this meeting is for Members and Observers of the Trade Policy Review Body to undertake their annual overview of developments in the international trading environment which are having an impact on the multilateral trading system, as provided for in Paragraph G of Annex 3 of the Marrakesh Agreement.

3.       As mentioned in the Airgram, today's discussion is assisted by the Director-General's Annual Report which sets out the major activities of the WTO and highlights significant policy issues and developments in the trading system over the past 12 months. This report was circulated in document WT/TPR/OV/19 on 21 November in English. In accordance with the Rules of Procedure for meetings of the TPRB, the Report was issued as an unrestricted document.

4.       At the outset, let me briefly recall that the purpose of the Trade Policy Review Mechanism, according to Annex 3 of the Marrakesh Agreement, is to achieve greater transparency in, and understanding of, Members' trade and trade-related policies and measures. The TPRM is not intended to serve as a basis for the enforcement of obligations under WTO Agreements, for dispute-settlement purposes or to impose new policy commitments on Members. These fundamental principles also fully apply to the annual overview of developments in the international trading environment.