Articles
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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.
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