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Trade Policy Review Mechanism

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Chapter Summary

The purpose of the Trade Policy Review Mechanism (TPRM) is to contribute to improved adherence by all Members to rules, disciplines and commitments made under the Multilateral Trade Agreements and, where applicable, the Plurilateral Trade Agreements, and hence to the smoother functioning of the multilateral trading system, by achieving greater transparency in, and understanding of, the trade policies and practices of Members. The TPRM is regulated in Annex 3 to the World Trade Organization (WTO) Agreement and forms part of the single undertaking approach of the Uruguay Round treaties, constituting an integral part of the WTO Agreement. Amendments to the TPRM are initiated and decided upon in accordance with the procedure set out in Art. X:8 WTO Agreement. They are thus not subject to the two-stage procedure for amendment of those agreements listed in Annex 1.

Keywords: domestic transparency; multilateral trading system; Trade Policy Review Mechanism (TPRM); Uruguay Round treaties; WTO Agreement



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