The World Trade Organization in the New Global Economy
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The World Trade Organization in the New Global Economy

Trade and Investment Issues in the New Millennium Round

  • New Horizons in International Business series

Edited by Alan M. Rugman and Gavin Boyd

Despite the disruption of the multilateral trade talks at Seattle in December 1999, the work of the World Trade Organization (WTO) continues. The trade and investment issues that have been outstanding since the Seattle events are explored in this far reaching book. The distinguished contributors combine several analytical approaches for a comprehensive assessment of the trends, problems and opportunities demanding attention in international trade negotiations.
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Chapter 3: Agenda setting for a Millenial Round: challenges and opportunities

Julie Soloway and Andrey Anishchenko

Extract

3. Agenda setting for a Millennial Round: challenges and opportunities Julie Soloway1 and Andrey Anishchenko2 1 INTRODUCTION Writing on the topic of the ‘Millennial Round Agenda’ of the World Trade Organization (WTO) is a challenging task because a Millennial Round of multilateral negotiations has not, as yet, begun. Since the failed launch of the Millennial Round in 1999 at Seattle, and indeed before that time, a number of seemingly intractable issues have surfaced which have indefinitely stalled the progress of future trade negotiations. Only by understanding the reasons for the failure at Seattle can we examine any attempts at re-launching any future WTO negotiations. The WTO is at a crossroads in its existence. The failure at Seattle to agree on an agenda to launch the new negotiating round represented the culmination of several issues that, until resolved, threaten to undermine the progress, and indeed the very existence, of the WTO. This chapter examines those issues with a view to bridging the divides that prevent future trade negotiations from taking place. The first part of this chapter examines the reasons for the failed launch of the Millennial Round at Seattle, and offers a number of recommendations for their resolution. The second part of this chapter examines the minimal progress that the WTO has made to date (primarily in the areas of agriculture and services) since Seattle. Finally, conclusions are made. 2 THE SEATTLE DEBACLE The meeting of the world’s trade ministers at Seattle from 30 November to 3 December 1999...

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