Charles Luiz Delos Reyes BSP 1-2 September 28, 2023

The article discusses the current state of the World Trade Organization (WTO)
and its relevance in today's global trade landscape, with a particular focus on the
Philippines. It touches upon various perspectives on the WTO's role, challenges, and
the need for reforms. The World Trade Organization (WTO) overall objective is to
help its members in using trade in order to improve their quality of life, produce
employment, and make people’s lives better. The WTO manages the global trade
rules framework and assists developing nations in increasing their trading
capability. It also serves as a platform for its members to negotiate trade
agreements and resolve trade disputes with one another. Round negotiations, U.
(2023). Here is a well-detailed reaction paper based on the provided article.

One of the things that we should take note of from the article is the
acknowledgement that the WTO, despite having its challenges and setbacks is it,
remains as a vital platform for multilateral trade negotiations. It serves as like an
open forum where countries like India, China, and the USA. Whether developed or
developing countries, they can engage at each other as equals. This points out how
important the WTO is in countries most especially the Philippines as stated by
Federation of Free Farmers (FFF) National Manager Raul Q. Montemayor, THINGS
could have been worse for the Philippines, particularly to its small-scale farmers
without the WTO. The article includes a range of perspectives from a variety of
stakeholders, including economists, government officials, and specialists. These
different opinions highlight the complexities of the WTO's concerns, illustrating that
there is no one-size-fits-all answer to its problems. One notable aspect is the focus
on the Philippines' experience with the WTO. It highlights both the benefits and
challenges faced by the country as a member, providing valuable insights into how
global trade policies impact individual nations.

According to the article, Menon added that under a multilateral trading system,
countries can resort to the trade dispute mechanism at the WTO to fight for their
sovereign rights. This is a result of the rules-based system enforced by the WTO.
And according to the WTO, since its establishment there has been over 500
disputes that have been brought to the WTO and over 350 rulings issued. Menon
added that the Philippines has used the dispute mechanism of the WTO for a
number of times. Based on WTO documents, the Philippines has been a
complainant in five cases. The country has also been a respondent in six complaints
filed against it by several countries. This points out that the Philippines is an active
member of the WTO and is a beneficiary of the WTO. The WTO still serves as a
need for the Philippines in terms of its agriculture as stated by the WTO officials.
The World Trade Organization (WTO) is essentially an alternate dispute or
mediation institution that preserves international trade norms among states. The
organization offers a forum for member states to discuss and settle trade disputes
with other members. The WTO's primary goal is to facilitate open channels of
communication among its members about trade. The World Trade Organization has
reduced trade barriers and enhanced commerce among member nations. It has also
maintained trade restrictions when doing so makes sense in the global
environment. The World Trade Organization aims to mediate between governments
in order to promote the global economy. (Tarver, E. 2022)

There are many benefits of the WTO to the Philippines as it does to its members.
And these benefits contribute to the country’s economic growth, stability, and
participation in the global economy. According to the case study of Baracol, D. S.
(2023) Agriculture is a major contributor to the Philippines economy, accounting for
21.5% of its gross domestic product (GDP), generating exports valued at over
US$1.5 billion, and providing one third of all employment, or 11 million jobs.

Market access refers to a company's or country's capacity to sell products and

services across borders. Market access can relate to both local and international
commerce, albeit the latter is the more prevalent setting. Kenton, W. (2023)
Market Access is one of the benefits when a country is a member of the WTO
Through trade liberalization and the reduction of tariffs and non-tariff barriers, the
Philippines can export its products more easily to other WTO member countries.
Being a member of the WTO offers a lot of benefits, and will truly help a country
developing or developed. In conclusion, despite the challenges and backlash of
WTO, it still plays a vital role in the economy such as the Philippines and even with
the developed countries such as China, India, and the USA.
References

Round negotiations, U. (2023). What is the WTO? - Who we are. WTO.

https://www.wto.org/english/thewto_e/whatis_e/who_we_are_e.htm

World Trade Organization. WTO. (n.d.-a).

https://www.wto.org/english/tratop_e/dispu_e/dispu_e.htm#:~:text=The%20WTO%20has
%20one%20of,350%20rulings%20have%20been%20issued.

Tarver, E. (2022). World Trade Organization (WTO): What it is and what it does. Investopedia.
https://www.investopedia.com/terms/w/wto.asp

Baracol, D. S. (2023). World Trade Organization. WTO.

https://www.wto.org/english/res_e/booksp_e/casestudies_e/case36_e.htm#:~:text=In%201
995%20the%20Philippines%20acceded,industries%20were%20expected%20to%20emerge

Kenton, W. (2023). What is market access in International Trade?. Investopedia.

https://www.investopedia.com/terms/m/market-
access.asp#:~:text=Market%20access%20refers%20to%20the,is%20the%20most%20com
mon%20context.