The rounds of GATT/WTO negotiations are often where the emphasis is
placed for progress on the liberalization of international trade. Given
that the last successful round was completed in 1994 and the Doha negotiations
have been stalled in 2008-2009, the prognosis for further liberalization
is often gloomy. While WTO negotiation rounds have been an important
facet of liberalization, other aspects of the multilateral trade architecture
are also important in fostering trade liberalization - but are often
overlooked. These institutional arrangements stem from the original
GATT-1947 but remain intact. It is argued that the institutional arrangements
for (1) non-discrimination, (2) recontracting and (3) accession also
foster liberalization. These institutional arrangements are explained
in the context of progress on international trade liberalization.
Keywords: accession, GATT, liberalization, most-favoured nation, recontracting,
WTO
