Will TPP undermine the multilateral trading system?
Will TPP undermine the multilateral trading system?

Summary/Abstract: A crucial factor of ever-growing regionalization of the world trade is the lasting negotiation impasse at the multilateral level. Finding a common ground among all WTO members has proven to be a task beyond their capabilities, consequently, some countries focused their efforts on concluding the Regional Trade Agreements (RTAs), which are of a smaller or larger regional range and importance to the global economy. The last group includes the Trans-Pacific Partnership. The TPP is not supposed to oppose the WTO regulations, on the contrary, it is designed to create the opportunities to implement the rules and deepen cooperation within the organization. Therefore, this partnership will surely affect not only the world trade flows, but also the progress of negotiations in the ongoing Doha Development Round and, in consequence, the further functioning of the WTO. It is the author’s belief that, unlike other important negotiations taking place, TPP will not weaken, but may, in a way, even support the multilateral trading system within the WTO.

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