On 26 July 2017 the General Council of the World Trade Organization (WTO) approved the first ever amendment to the Trade Policy Review Mechanism. The mechanism provides for periodic reviews of the trade policies and practices of WTO member states and the monitoring of the global trading environment.
Owing to the increase over the years in the number of member states of the WTO an adjustment to the cycle of Trade Policy Reviews (TPRs) has been agreed to ensure the continued effectiveness of the mechanism. Currently WTO members are the subject of a TPR once every two, four or six years depending on the size of the economy. Following the amendment the frequency of reviews will change to once every three, five or seven years, with the largest economies reviewed the most frequently. The change will be phased in, commencing from 2019.
In addition to this change WTO members also agreed to revise the timeline relating to the question and answer process for TPRs. Members choosing to provide early written answers to questions from other WTO members will be given one more week for preparing their answers. The WTO Secretariat intends to develop an information technology system that will allow the question and answer process to be managed more efficiently. A regular practice is also to be introduced for members to provide brief reports on changes to their policies during trade monitoring meetings.
