pascallamyPushed aside by the emerging swine flue pandemic and commemoration of President Obama’s first 100 days in office, media have downplayed an event critical to international business: the Word Trade Organization has reappointed Pascal Lamy as its Director-General for a second four-year term.

The WTO has been around only since 1995, but this is the first time that a D-G candidate has run unopposed.

Lamy made a presentation yesterday that recalled where the WTO stands today (and reiterated its aim to “open trade for the benefit of all”) and pointed to two areas where he seeks future action:

  • Regional trade agreements. RTAs present a dilemma because they run counter to the longstanding multilateral approach behind WTO (and GATT). Lamy wants to “collectively think about some way of gradually ‘multilateralising’ concessions made in [regional] free trade agreements.”
  • Rules of origin. Determining where goods come from (their origin) has become increasingly complicated. Lamy aspires to “simplify the lives of trade and economic operators.”