Improving transparency – strengthening monitoring, surveillance and consultation

The past 20 years have shown that transparency is an indispensable element of the multilateral trading system. Enhanced surveillance and regular monitoring of trade policies and practices have significantly contributed to global efforts at countering the potential threat of protectionist pressures and at ensuring compliance with trade commitments. Transparency requirements – and the knowledge that WTO members stand on watchful guard – create a powerful incentive for members to abide by their commitments. This increases the level of confidence in the system. Moreover, the institutionalization of domestic transparency in trade policy-making enhances government accountability and public understanding, and reduces the scope for discretionary use of trade policy measures.