The trading system needs effective and complementary governance at several levels. The regional, bilateral and unilateral components of the system are flourishing but progress in achieving multilateral agreements is waning. Since the World Trade Organization’s creation in 1995, scant new multilateral liberalization – or new bindings – has been achieved in such areas as services, agriculture in industrial countries, and manufacturers tariffs in developing countries.

A remedy for this dilemma would be the Doha Round’s successful conclusion. However, the time taken to complete Doha and the draft’s reduced level of ambition call for novel approaches. Over the medium run action is required to improve the system by strengthening its multilateral component; increasing disciplines on plurilateral and regional agreements; assisting countries with liberalization and trade facilitation; and fostering the relationship between the WTO and other institutions.

Download:

• Foreign Direct Investment as a Key Driver for Trade, Growth and Prosperity: The Case for a Multilateral Agreement on Investment
• The Shifting Geography of Global Value Chains: Implications for Developing Countries and Trade Policy
• Preferential Trade Arrangements and the World Trading System
• A Plurilateral “Club-of-Clubs” Approach to World Trade Organization Reform and New Issues

Contact Information

Research analyst: Daniel Akinmade Emejulu, Research Analyst, Global Agenda Councils, Daniel.Emejulu@weforum.org
Council Manager: Roberto Crotti, roberto.crotti@weforum.org
Forum Lead: Margareta Drzeniek, Director, Senior Economist, Head of Competitiveness Research, Global Benchmarking Network Margareta.Drzeniek@weforum.org