In multilateral negotiations, such as at the WTO, the outcome can have a major impact on the lives of millions of people. A country might change its economic future and the well-being of its population by successfully achieving its negotiating objectives, even more in the case of DCs or LDCs whose economy depends heavily on their trading relationships with economically stronger partners.
Through negotiation, parties will therefore try to find an agreement that allows the various actors to achieve some or most of their objectives. In an interdependent economic environment, these objectives can only be achieved with the participation and collaboration of other parties. However, these other parties will take part in the negotiation only if they can also achieve some or most of their objectives.
The reality of multilateral trade negotiations adds further complexity to this theoretical pattern, with an asymmetrical distribution of negotiating and bargaining power between the various countries. We will examine the features of this asymmetry and possible ways to counterbalance it in subsequent chapters of this module.
Dispute resolution [3]
The need to establish rules for international cooperation and settle international disputes arising from the growing competition among economic actors and the binding legal environment of international trade have also contributed to the increasing importance of negotiation. To prevent an escalating war of legal procedures between actors of the international system, the dispute resolution institutions keep the possibility of negotiating at every stage of the process.
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| INTRODUCTION | | | The collaborative, or integrative, approach |