Indian Journal of Science and Technology

Abstract

Background/Objectives: This article is devoted to the analysis of the World Trade Organization export restriction rules in the field on Metals World Markets. Methods/Statistical Analysis: The study is based on the results of the legal analysis of the World Trade Organization rules in the field of export restrictions the change of which is complicated by many factors in current political and macroeconomic situation. The economic analysis of the export restrictions influence on the world economies was performed based on the governmental statistical data. Moreover, this analysis revealed the effect exerted by these restrictions on producers and consumers of the metal. Findings: There is an increasing trend in international trade to regulate export and import flows by implementing export restrictions. This tendency affects significantly trade in metals. Several factors – unequal geographic distribution and indispensability of certain metals in production processes – make significant effect from restrictive export policies in metals sector. Despite many attempts World Trade Organization members did not agree yet to negotiate their rules in the field of restrictions policy within multilateral rounds. This policy gives an advantage to downstream consumers that are using the metal in question. To the contrary, it undermines conditions of local raw materials producers. For the world market it will clearly mean losses for metals consumers which will be slightly offset by trade gain of raw materials producers. These results were obtained by comparing the theoretical research and practical experience of countries and they add value to the existing methods of restrictions implementation evaluation. Applications/Improvements: The authors provide several suggestions for importing countries that can effectively offset negative effects from export restrictive policies on their economies. 

Keywords: Export, Impact, Metals, Restrictions, World Markets