The World Trade Organization (WTO) Agreement on Government Procurement (GPA) is an international treaty that regulates the purchasing activities of governments around the world. The agreement is designed to promote fair and open competition in government procurement and to ensure that public funds are used efficiently and effectively.
The GPA was first introduced in 1981 and has since been updated several times, with the latest version coming into force in April 2014. Currently, there are 20 signatories to the agreement, including the United States, the European Union, Japan, Canada, and Korea.
Under the GPA, signatory countries commit to providing fair and equal access to their government procurement markets to other signatories. This means that companies from any signatory country can bid on government contracts in other signatory countries on an equal footing with domestic companies.
The GPA covers a wide range of goods and services, including construction work, supplies and equipment, and services such as consulting and IT. The agreement also establishes rules for the awarding of contracts, including transparency requirements, non-discrimination rules, and provisions for the use of electronic procurement.
The benefits of the GPA are clear. By providing access to government procurement markets, the agreement creates opportunities for companies to expand their business and increase their revenues. It also ensures that public funds are used efficiently and effectively, as procurement decisions are made based on competitive bids rather than on political connections or other factors.
For companies looking to do business with governments around the world, the GPA is an essential tool. By ensuring fair and open competition, the agreement promotes transparency and helps to prevent corruption in government procurement.
In conclusion, the WTO Agreement on Government Procurement is a vital international treaty that promotes fair and open competition in government procurement markets. With 20 signatories, including major economies such as the United States and Japan, the agreement provides significant benefits to companies looking to do business with governments around the world. For companies looking to expand their business and increase their revenues, the GPA is an essential tool that ensures fair and transparent competition in government procurement.