UN's Arms Trade Treaty: The Beginning of a Regulated Arms Market?

摘要

On Sep 23.2013, the US Secretary of State, John Kerry made a bold move by signing the United Nation's Arms Trade Treaty (ATT) on behalf of the United States. The signing of the ATT by President Obama's administration reversed the policies of previous presidents Bill Clinton and George W Bush of rejecting the treaty. The treaty, which has undergone a seven-year process before being accepted by the United Nations marks a formal document that regulates the $70 billion international arms trade to curb it from misuse by irresponsible stakeholders. The US is the largest arms exporter in the world, and Kerry's signature was seen as a significant step in pushing it forward. As of Oct 2013, 113 countries have signed the treaty. The treaty will only enter full force once it has been ratified by at least 50 countries. However as the United Nation celebrates its 68th anniversary on Oct 24, it will be a while longer before the treaty would materialise as only seven countries have ratified it so far. The Nordic state of Iceland was among the first nation to ratify the ATT.