IN THE SHADOW OF SUBSIDIES: WTO'S REGULATORY FRAMEWORK
Keywords:
subsidy, agreement, countervailing measures, WTO, investigation, types, agriculture, obligation, transparency.Abstract
The regulation of subsidies within the World Trade Organization
(WTO) framework is a critical aspect of international trade law, addressing the
complexities and impacts of governmental financial support on global markets.
This article delves into the key provisions of the Agreement on Subsidies and
Countervailing Measures (SCM Agreement), which outlines the rules for
permissible subsidies and the measures that can be taken against unfair
subsidization. It explores the three main types of countervailing measures:
provisional measures, voluntary undertakings, and definitive duties, alongside
the procedural obligations and transparency requirements imposed on WTO
Members. Special attention is given to the differential treatment afforded to
developing countries under Article 27, recognizing their economic development
needs while maintaining the integrity of the SCM Agreement's disciplines. The
relationship between the SCM Agreement and the Agreement on Agriculture is
also examined, particularly in the context of agricultural export subsidies.
Compliance issues, including the low rate of subsidy notifications and the
challenges faced by developing countries in meeting these obligations, are
discussed, highlighting the ongoing debates around WTO reform. Through a
comprehensive analysis of the SCM Agreement and related jurisprudence, this
article underscores the importance of transparent and fair subsidy practices in
fostering a balanced and equitable international trade environment.
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