OVERVIEW OF DEVELOPMENTS IN THE

INTERNATIONAL TRADING ENVIRONMENT

MINUTES OF THE MEETING

12 December 2019

Chairperson: H.E. Mr. Manuel A.J. Teehankee (Philippines)

INTRODUCTORY REMARKS BY THE CHAIRPERSON

1.       Good afternoon and welcome to this meeting of the TPRB, which was convened by Airgram WTO/AIR/TPR/92 on 21 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 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 provides a comprehensive "tour d'horizon" of the overall state of global trade and of significant developments in the implementation of trade policies by WTO Members between mid‑October 2018 and mid-October 2019. The Report was circulated in document WT/TPR/OV/22 on 29 November in English. In accordance with the Rules of Procedure for meetings of the TPRB, the Report was issued as an unrestricted document. This Report builds on the mid-year trade monitoring report submitted to this Body in July 2019.

4.       At the outset, I should briefly recall the purpose of the Trade Policy Review Mechanism, which 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, nor for dispute‑settlement purposes or to impose new policy commitments on Members. These fundamental principles also apply to the Annual Overview of Developments in the International Trading Environment.