Effects Of Wto Accession On Policymaking In Sovereign States: Lessons From Transition Countries

One of the most remarkable successes of the World Trade Organization (WTO) in recent years has been the expansion of its membership and the continued stream of applications by countries to accede to it. Of the 43 countries that have applied to accede the WTO under Article XII since January 1, 1995, approximately one half are countries in the process of transition from a planned to a market economy. Ten of the 14 countries that have already completed their accession process and between nine and 13 countries — depending on whether East Asian countries are included or not — of the 28 countries negotiating their accession are transition countries. Clearly, the WTO represents a powerful attraction for countries in transition (CITs), which treat WTO Membership as a “stamp of approval” of their policies and their admission into the international community — a feat quite important for CITs that have been isolated from world markets for more than 50 years.