Wto Agreement Gpa
The World Trade Organization (WTO) Agreement on Government Procurement (GPA) is a treaty that was established to provide a framework for fair and open competition in government procurement.
The GPA covers government agencies of member countries that have agreed to be bound by its provisions. These agencies must follow the principles of transparency, non-discrimination, and fair competition when awarding contracts for goods and services.
Under the GPA, companies from member countries have access to government procurement markets in other member countries on an equal footing with domestic suppliers. This means that foreign companies have the same opportunity as local companies to participate in government procurement processes and win contracts.
The GPA also provides for the resolution of disputes between parties. A party that feels it has been unfairly treated in a procurement process can seek redress through the WTO`s dispute settlement system.
One of the key benefits of the GPA is the increased competition it promotes. This can lead to better value for money for government agencies and taxpayers. It also provides opportunities for companies to expand their markets into other countries, which can help to grow their businesses and create jobs.
In addition, the GPA helps to promote good governance and the rule of law. By requiring government agencies to follow transparent and fair procurement procedures, the GPA helps to prevent corruption and ensure that public funds are used effectively.
Overall, the WTO Agreement on Government Procurement is an important international treaty that helps to promote fair and open competition in government procurement. It provides opportunities for companies to expand their markets and helps to promote good governance and the rule of law. As such, it is an important tool for promoting economic growth and development around the world.
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