Trade Policy Review Mechanism
Trade Policy Review Mechanism: TPRM. A WTO review mechanism established in December 1988 at the Montreal Ministerial Meeting which conducted a mid-term review of the Uruguay Round. It is managed by the Trade Policy Review Body. The TPRM is aimed at a smoother functioning of the multilateral trading system through greater domestic and international transparency in the trade regime of individual WTO members. Issues may be raised regardless of whether they are covered by WTO rules, though there is an understanding that they should be related to the trade policy of the country being examined. Reviews are conducted according to a fixed timetable. The frequency of reviews is related to the share of world trade, with large traders being reviewed more often. The TPRM does not serve as a basis for the enforcement of specific WTO obligations or for dispute settlement procedures. See also surveillance.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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