GOVERNANCE OF PROTECTIONIST MEASURES WITHIN THE WTO

Abstract

The purpose of the study is to determine the prospects for development of protectionism as the dominant paradigm of countries’ economic policies in the context of supranational regulation of international trade within the World Trade Organization (the WTO, Organization). During the study it was found out that the tools of modern protectionism include non-tariff import restriction measures, as well as fiscal and administrative measures to support production and export. The use of these tools contributes to an increase in compensation protectionist measures by trading partners. It was revealed that the WTO mechanisms limit the range of protectionist measures by participating in the provision of balance of interests of the WTO member states. The article concluded that in spite of the WTO crisis, manifested in the inability to reach new agreements based on the principle of consensus due to differences in the goals and interests of the participating member states, the WTO is interested in the safety and functioning of this institution. Participation in the Organization provides relatively non-discriminatory access of goods on foreign markets, and also allows you to defend the interests of the country during discussion of the modernization issues within the existing international trading system. At the same time, as it was noted, in the context of the WTO crisis, alternative platforms for implementation of economic interests of states are becoming regional economic units of different forms of integration.