The Uruguay Round And Beyond

Key players in world trade policy formation discuss the origins of the World Trade Organization--and where it is going

This collection of essays is dedicated to Arthur Dunkel who presided over the General Agreement on Tariffs and Trade (GATT) between 1980 und 1993. As Director-General during a crucial period for international trade, he is credited with being the chief architect of the Uruguay Round of Multilateral Trade Negotiations. Among the contributors in this volume are not only distinguished trade policy makers of today, eminent academics from international economics and law, and leaders of international institutions and business, but also prominent players in the Uruguay Round negotiations. Their experiences, reminiscences and analyses make this volume a unique contribution, offering a rare insight into what went into the Uruguay Round and the making of the World Trade Organization (WTO), and what lies beyond.

This is a report about developing country participation both in the current Uruguay round and beyond, arguing that over the post war years a climate of mistrust has evolved between developed and developing countries over trade issues.

The book examines the current world trading regime and the prospects for freer trade in the future. It describes the trade negotiations known as the Uruguay Round which took place in the context of the GATT and which led to the establishment of the World Trade Organization at the end of 1994. The book contains a brief summary of the history of the negotiations and GATT rules in each case - drawing on the author's first-hand experience - but focuses more on the results of the negotiations themselves. It contains up to date information on advances in the trade field since the Round in such areas as telecoms and information technology. It discusses the main issues the WTO will have to confront in the future.

Experience suggests that trade liberalization has contributed substantially to the remarkable growth of industrialized countries. However, for various reasons many developing countries have not yet been able to integrate successfully into global markets and reap the growth-inducing and poverty-reducing benefits of trade. This book argues that while developing countries are heavily represented in the WTO - accounting for about four-fifths of its membership - there is still plenty of scope for the world trading system to work more effectively in their interests.

This paper analyzes the achievements of the Uruguay Round, and issues with the post-Uruguay Round agenda. The paper highlights that the conclusion of the Uruguay Round is a major achievement in international trade relations and a crucial element in promoting world trade and growth in the medium term. It arrested the deterioration in the trading environment and created a strengthened framework for future trade relations, thereby boosting business and investment confidence. It also provides positive outcomes in several areas, including market liberalization and strengthening of rules and institutional structures.

Uruguay Round negotiations on market access were a success. Tariff cuts covered a larger share of the world trade than those of the Kennedy or Tokyo Rounds and will save importers some $50 billion a year.