Joining the world's economic parliament
After 16 years of negotiations, Vanuatu is poised to join the World Trade Organisation. By taking a seat at what is in effect the world’s economic parliament, Vanuatu is staking a claim as a member of the world economy to make decisions affecting itself and the rest of the world.
It is a controversial decision depending on your viewpoint: seen as surrender to powerful global interests by critics and as a mature policy of engagement by its supporters.
What is the reality? Did Vanuatu get the best deal it possibly could have?
With politicians due to vote to ratify the accession package in parliament by November 2011, it’s crucial that people understand what the WTO is, based on accurate information. Only with proper knowledge of the all facts will Vanuatu be able to make a good decision about whether or not to join. It is important also to analyse the deal as it specifically relates to Vanuatu, not accept analysis that springs from deals done by other countries. Each deal is tailor made for that country and much commentary seems based on more general concerns about the WTO in general.
The Pacific Institute of Public Policy has undertaken its own study of the deal and hopes the following analysis can provide a more reasonable discussion of what is at stake, leaving out the emotions, which have often run high, and to demystify a process that ultimately is neither a catastrophe nor a God-send. The banal reality is that WTO ascension is just not that big a deal: in short Vanuatu would appear to gain little and lose little, but will at least have a seat at the table. Because the process has gone on for so long, Vanuatu has already had to become WTO compliant on many fronts to participate in trade deals with many of its trading partners. In the end, joining the WTO is formalising what has been happening incrementally anyway.
