How can the world trading system better serve the needs of the 21st century enterprise?
The post-war world has seen a remarkable advance in prosperity and trade, while private enterprise has flourished as never before. However, with technology and the globalization of production the demands on the trading system for deeper and more comprehensive disciplines have increased greatly, and the system is evolving far too slowly. For reasons of efficiency and equity, the consequences of this troubling situation for smaller enterprises is of special concern. The cost and complexity of engaging in international trade remain far too high for small companies. This paper aims to set out some important ways in which the world trading system, beginning with the WTO which is at its center, can better serve the needs of the 21st century enterprise.