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May 2013

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Whither, global trading system?
Business Line, May 14, 2013

By Pradeep S Mehta

The new Director-General of the World Trade Organisation (WTO), Roberto Carvalho de Azevedo, will face a Sisyphean task in breathing life into the comatose Doha Round that has been under negotiations since its official launch in November 2011. The talks have failed to make much progress, made worse by fragmentation due to a spaghetti bowl of preferential trade agreements (PTA), many of which have been signed or are under construction. The international community’s challenge now is to resurrect trade multilateralism, because PTAs are not the best option; the bigger partners often get the better of the smaller parties in these treaties. That is why multilateralism needs to be resuscitated. But that calls for a fresh approach. More...


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