The Multilateral Trading System – Challenges Ahead

Abstract
The multilateral trading system is currently at a difficult and critical juncture. The world economy is in turmoil, fiscal and trade imbalances continue unabated, and no end is in sight for the Doha negotiations. New challenges are added to old ones. Tariff and non-tariff protection, export restrictions, the proliferation of regional trade pacts, the emergence of new and complex issues, such as climate change, high and volatile food prices, energy production and consumption are only some of the issues that need to be addressed soon.

At the same time, the rise of emerging economies and the relative decline of traditional economic powers is one of the most striking features of today's global environment, and many observers concur that the current impasse in the Doha Round is the result of fundamental disagreements over the respective level of commitment expected from emerging and more advanced economies. While several countries have insisted on the need for the emerging economies to shoulder new responsibilities commensurate with their rapid economic growth, emerging economies have pointed out the numerous development challenges they are still facing at home, starting with the urgent need to tackle rampant poverty.

Thus, a key question is whether the WTO is well equipped to deal with these challenges or whether there is a need to revise and adjourn the basic foundations on which the trading system has developed over the last sixty-plus years? Should the current mandate of the WTO now be expanded or it is advisable to complete the unfinished business of Doha before moving into other, uncharted areas? What should be done to strengthen the multilateral trading system and to ensure its robustness and resilience in the future?  These issues as well as the need to revisit the ever present relationship of trade and development in global governance will be addressed in the lecture. 

Biography of the speaker
Miguel Rodriguez Mendoza is Senior Associate at the Geneva-based International Centre for Trade and Sustainable Development (ICTSD), where he focuses on trade policy, regionalism and aid for trade. He served as Deputy Director-General of the WTO between 1999 and 2002, and was subsequently head of the Geneva office of the international law firm Van Bael & Bellis. He was Venezuela´s Trade Minister and negotiated Venezuela’s accession to the GATT in the early 1990s. He was also Special Trade Advisor to the Secretary General of the Organization of American States (OAS) and head of its Trade Unit.