Negotiating rights
Negotiating rights: one of the purposes of the WTO is to act as a forum for the reduction and elimination of trade barriers. This is done through negotiations, but the right to engage in them is subject to certain rules. The bulk of barrier reductions is now done through multilateral trade negotiations, the so-called rounds, and sectoral trade negotiations. All WTO members have the right to participate in them. In other circumstances, they may not have automatic negotiating rights. Whether they do may depend on the fulfilment of some conditions, including the principal supplier rule and the substantial supplier rule. The entry on renegotiation of tariffs contains instances where negotiating rights may arise. See also initial negotiating rights.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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