50th Anniversary Of The Multilateral Trading System PDF Download

Along the way, I make a number of observations about the decline of the bipolar dominance of the world trading system, the factors likely to influence the future commercial policies of the emerging trading powers, and the possible form that future multilateral trade initiatives might take. [...] Arguably, leadership in the WTO consists of all of these things and towards the end of this paper, after discussing the evolving multilateral trade landscape, I will draw out a number of implications for the leadership that Europe could offer the multilateral trading system in the years ahead. [...] These arguments also beg the question as to whether the European Union has the trade policy-making priorities and institutions it needs, a matter that is all the more poignant as 2007 marks the 50th anniversary of the signing of the Treaty of Rome.5 The final challenge concerns the WTO itself. [...] In what follows I will first focus on the fall of the bipolar world trading system, the factors likely to shape the commercial policies of the three emerging trading powers, namely, Brazil, China, and India, and the implications for the commercial policy of the European Union and the possible shape of future multilateral trade initiatives. [...] EU Commercial Policy in a Multipolar Trading System | 6 The conclusion of the Uruguay Round which, in addition to cutting tariffs on merchandise trade further, brought agriculture, services, and intellectual property rights into the ambit of intern- ational trade rules, created a binding system of dispute settlement, and established the WTO, represented the high point in the influence of the trans.