Chapter 2: Necessity for a Development Round
To my mind the development of the poorer countries is very much the concern of the WTO, but it is a concern which is limited by its remit, which is to facilitate trade. Those of us who believe in global economic integration and the benign effects of trade think a multilateral system can help create equal opportunity and through equal opportunity the development of better opportunities for the poor. (Peter Sutherland, 2004) INTRODUCTION That the Uruguay Round (1986–94) was a landmark in the systemic process of evolution of the multilateral trade regime is universally acknowledged. After some initial nervousness and uncertainties, the developing economies participated in the Uruguay Round, although not in the most adroit manner. In the end they did not think that the final outcome was favorable to them and their trade-related interests. This chapter addresses the question why in the process of its evolution it was necessary for the World Trade Organization (WTO) to have a new round of multilateral trade negotiations (MTNs) and that it should be a development round. This chapter logically tees off with the significance of the Uruguay Round in the multilateral trading system and moves on to the ongoing Doha Round of MTNs and its objectives, rationale and wide-ranging policy space. As regards the structure of this chapter, the second section begins with the enormous achievements of the Uruguay Round and explains why the developing economies did not get enough out of it. The third section covers the successful launching of...
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