Experience of Recently Acceded Member Countries to the WTO

Abstract

It is argued that a rule-based, transparent and predictable multilateral trading regime under the WTO is beneficial for developing and other transitional economies. As world economy is progressing, joining the WTO becomes a good bet for them who are still outside the system. Many developing and LDCs have in the past therefore acceded to the WTO with this intention in mind. These countries other wise knows as Recently Acceded Member (RAM) countries. It is commonly portrayed that the accession process for these countries has been extremely bureaucratic, cumbersome, cost adding and technical. This paper aims to understand why there is a need for the countries to join the WTO. What measures can be prescribed to make the process more flexible and accommodative for applicants. While analyzing the issue, the paper suggests that the faith and confidence of developing and transitional economies in the WTO are still valid. It finally charts out a path for member countries to make process of action relatively easier.