International Trade And Environment: Past, Present And Future Analysis
On December 6th (2013) the World Trade Organisation concluded the first multilateral trade agreement. At the heart of the deal is an agreement on “trade facilitation”, or measures to reduce trade costs by cutting red tape in customs procedures. Disagreement spanned upon on several issues. But one important aspect of the Doha round, which didn’t gain much limelight was the WTO’s stance on the environment by launching multilateral environment negotiations.
Environmental Impact of Trade
Trade is a vital element of the global economy. We have a come a long way in terms of international trade .The total international trade of goods in the year 1995(WTO established) was US$ 6 trillion which …show more content…
Properly implemented standards can facilitate sustainable trade by contributing the use of environment friendly techniques and processes. But consumers will have to play a very important role and choose products with such certifications, large manufacturers and retailers will then only put pressure on suppliers worldwide through the introduction of voluntary standards, and thus transform business practices.
There are positive signs that trade-related practices are moving towards more environmental, social and economic sustainability. But it is obvious that, as far as climate change and trade obligations are concerned, the rules are yet to be clearly defined. The debate and discussions have already begun. These trends have to be encouraged and formal standards need to be defined. A meaningful transition towards a sustainable trade will require cooperation among all the countries around the world along with technological