Towards Half Time in the Doha Development Agenda

Abstract

On March 13-14, 2003, the Department of Foreign Affairs and International Trade convened an informal meeting of leading observers of international trade and investment to discuss prospects for the Doha Development Agenda. This paper represents a thematic summary of those discussions, which were held under Chatham House rules. In view of the troubled macroeconomic and geopolitical situation in the global economy, some participants indicated that the first priority might well be to simply to preserve the system. However, others were more optimistic, especially as trade is an essential element to restore economic growth and international confidence following a period of geopolitical tension. There was also discussion on how to address instabilities in the system of trade rules which “reach into” domestic policy spheres, and how to make course corrections lest the WTO sail into waters that some observers fear are rougher than it can handle. As developing countries increasingly participate in the multilateral trading system, new problems are developing, but so are opportunities. The basic counsel from the discussions was that the international community need not rush the Round; the intellectual foundation for a "big result" is not there and there is still time to think things through.

Keywords: WTO, Doha Round, trade liberalization, system friction, Singapore Issues, Special and Differential Measures

JEL Classification: F13