Significant developments have taken place on a global (e.g., WTO) and regional (e.g., EU) level to foster the trend of market liberalization and competition. As countries make global and regional commitments to open their telecommunications markets to foreign investment and harmonize local legislation with that of other countries in similar geographic or economic situations, such commitments may serve as a means to accelerate regulatory reform, facilitate global or regional best regulatory practices, and provide telecommunications investors with a level of certainty and predictability. A list of countries that established independent regulators after undertaking WTO and other regional commitments can be found at the ITU ICT Eye. In addition, such multilateral and regional frameworks also serve to establish government accountability in ensuring a certain level of transparency and market-oriented regulation.
The extent and consequences of such commitments vary by country and generally have less to do with a country’s legal system, and more to do with a country’s political and economic situation and the level of development and competition in its telecommunications market.