The potential role for collective preferences in determining the rules of the international trading system

The study examines the concept of collective preferences and their potential role in defining international trade rules. Based on the initiative of Pascal Lamy in 2004, the paper explores the extent to which current trade rules already reflect collective preferences and discusses the inclusion of the concept into international trade rules, including a temporary safeguard clause accompanied by a compensation mechanism. The main focus is on whether the concept of collective preferences can provide the multilateral system with better responses to societies’ expectations and fears concerning globalisation. Following the state of the debate on collective preferences, the WTO legal framework is examined and European collective preferences are assessed.