This Round was in part launched because in late 2001, the world was so concerned about the economic consequences of newly found political uncertainty, that many governments put aside their fears of protectionist political pressure at home, and their love of cheap anti-trade rhetoric, to take the bold steps needed. This is an opportunity because of its timing.If Doha fails, will there ever to be another trade round? Otherwise, the lost trust will cost the system for decades to come. A successful Doha Round with a comprehensive agriculture agreement would accomplish this. It is vital to kill such suspicions by finishing the job this time. This result left many countries dubious about the fairness of the multilateral process, and about whether deeper commitments were worth pursuing. Some nations consider the Uruguay Round as an incomplete job having made good progress on many topics yet not enough when it comes to the most controversial topic of all, agriculture. This is an opportunity because of its symbolism.Īn agreement could put away the negative perceptions by many nations about the Uruguay Round.The world does not have many pockets of untapped, sustainable income of such value. This is an opportunity because of its economic magnitude.Ī good result would allow the global economy to seize trade gains that have been estimated by various computer simulation models (CGEs) to be on the order of half a trillion dollars.There are many ways in which concluding the Round in 2011 provides unique opportunities. What else is there to say, after so much disappointment and erosion of credibility? But I am not sure that there is anything new that I can put forward to argue the case, after so many have defended the point for so many years. I believe that there are many arguments why a good conclusion to this Doha Round is important for the world, and especially for developing countries. My reaction, when I was asked to write a few pages about the importance of concluding the Doha Round at this Friday´s meeting of the Trade Negotiating Committee, was to refuse.
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