9 December, 2007
As international trade ministers are meeting over the weekend at the Bali climate summit, WTO chief Pascal Lamy and Indonesia trade minister Mari Pangetsu published an interesting article in the International Herald Tribune, highlighting the challenges of climate change for international trade rules.
Here is the article’s main message:
“The international trading system cannot dictate to the world the rules of the environmental game. Rather, it must respond to those rules as soon as they are crafted.
It is only a multilateral solution to climate change that can send the right signal on how the trading rules must adjust. Absent such a consensual signal, the WTO will continue to be pulled from left to right by different players, with only a faint possibility of landing in the center.”
- World Bank: International Trade and Climate Change, 2007