Doha Development Round: Why Its Success is Sine-Quo-Non for Global World?
The Doha Development Round (DDR) has been in the doldrums for more than 10 years. Trade negotiations are at a stand-still, resulting in a revival of trade protectionism and preferential agreements in the name of ¡®new regionalism.' This leads to a dismantling of the multilateral trading system. The World Trade Organization (WTO) was created for the very purpose of increasing multilateral trade in 1995. It is vital to preserve gains from the world trade. The success of multilateral trading system relies in part on the completion of the DDR. The concepts and practices of free trade are at risk of being reduced in favor of trade protectionism and new regionalism. If it happens, then the future of global trade is uncertain. Such an occurrence would result in a major loss of economic potential, which no country can afford. Doha is stuck. Where do we go from here? This paper discusses the issues relating to the closure vs. success of the DDR.
Volume (Year): 4 (2012)
Issue (Month): 2 (June)
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