World Energy Congress Looking Ahead
Stronger WTO rulebook could benefit energy sector.
Compiled by staff
Published: Sep 22, 2010
A task force has reported to the World Energy Congress, 2010 in Montreal that the international community has yet to take a strategic approach to the rules of the Multilateral Trading System with respect to energy trade. Several portions of the WTO "rule-book" are relevant to energy; however, they remain relatively scattered with little over-arching global policy consensus or goal. This year the world Energy Congress has set three goals: "Access," "Availability" and "Acceptability" of energy sources.
WTO Director-General Pascal Lamy believes a stronger WTO rule-book could benefit the energy sector, because just as with any sector where trade is feasible, trade restrictions are feasible too.
"We must recognize what we have before us is a complex web of trade-restrictive practices by state-trading enterprises; subsidies; export restrictions of various sorts; restrictions on transit; on investment; on the movement of energy service providers; and more," Lamy said.
Lamy told the congress that through more open markets, greater competition, and the spread of clean technology, the Doha Round would help stabilize the international trade and investment landscape in the energy field.
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