Answer to Question #295938 in Economics for unknown

Question

Explain the realist point of views on the actions taken by World Trade Organization in regulating and maintaining the Genetically Modified Foods and Organisms (GMOs).

Answer 1

The widespread commercialisation of GM products dates back only to 1996, two years after the establishment of the WTO. Accordingly the trade rules agreed in the Uruguay Round (1986-1994) did not specifically refer to such products. Nevertheless, the question of government action restricting imports of products that could harm the health of humans, animals, and plants – and by extension the environment – played a major role in the Uruguay Round negotiations.

The Sanitary and Phytosanitary (SPS) Agreement was seen as a significant step forward in this area as it defined more closely the conditions under which governments can restrict imports for health reasons, while and the Technical Barriers to Trade (TBT) Agreement dealt with technical regulations, standards, including labelling requirements, and conformity assessment. The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) could also be relevant in cases where the issue of the patentability of GM products comes into question. And the basic articles of the General Agreement on Tariffs and Trade (GATT), incorporated into the WTO as the GATT-1994, that apply to all trade in goods can have fundamental implications for national GM policies.