Topics: (1) Protectionism and Violations of Most-Favored Nation Status and (2) Ensuring Equitable Trade Conditions for Developing Nations
The World Trade Organization (WTO) is an intergovernmental institution founded to regulate and facilitate trade. The mission of the WTO is to use trade to improve quality of life worldwide and promote globalism. At the heart of the WTO are the commitments that member-states make, specifically the Most-Favored-Nation rule (MFN), which mandates that member-states treat all other member states equally in trade matters, never giving a favorable deal to one nation that isn’t offered to all other member-states. The exception to this rule is for deals made with developing nations, as in accordance with the mission of the WTO, offering favorable trade deals to developing nations will help them grow and develop. However, these principles have come under fire recently, as across the world there has been a surge towards extreme protectionism and anti-globalist policies, including tariffs that potentially violate MFN. This committee also must consider the nature of favorable trade deals for developing nations, as these deals can often lead to dependency and can become extractive and exploitative if left unchecked. The WTO is undergoing a period of turmoil and change, and it will be up to the delegates to weather the storm and restore order in trade.
More information will be released in the coming months!