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Fairness in International Trade and Investment Global FITI Coordination: Geoff Moore (UK)
Ferrato, Elio de Arruda, Maria Cecilia Coutinho
Ferrato, Elio
de Arruda, Maria Cecilia Coutinho
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Abstract
The objective of this paper is to analyze how the workings and outcomes of the World Trade Organization (WTO) is perceived as fair, and what are the some of the main ethical issues regarding the WTO in Latin America. Some developments are presented, concerning a way to address these ethical issues in Latin America. An exploratory qualitative research project gathered statistics about Latin America, published by the WTO, Economic Commission for Latin America and the Caribbean (ECLAC), Inter-American Development Bank (IADB) and other international institutions. Some figures indicate that the region is still far from the ideal, as the poverty level has not significantly changed, when compared to the period before the creation of the WTO in 1995. The results of dispute panels at WTO, opened by developing countries questioning the developed ones, lead us to consider that the organization is much in favor of the latter. The Doha Round seems not to move forward, which suggests that countries can live without it. Some of the main ethical issues regarding international trade and investment are related to the image, due to level of corruption, and economic openness (barriers) of the countries individually, that significantly depend on the economic results of WTO decisions. In order to comply with those main ethical issues, several countries are fighting corruption through the creation of mechanisms to inhibit its proliferation and improve image. In order to build better reputation, countries as Brazil are attracting investments and trade through the creation of sustainability programs that associate corporate finance with environmental and social targets.
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Conference proceedings
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2008
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With permission of the license/copyright holder