Overview of developments in the international trading environment

WTO Members agreed in Doha in November 2001 to put in place a comprehensive agenda for negotiation and future work, the Doha Development Agenda (DDA). The agreed agenda aims at further strengthening and liberalizing the multilateral trading system, including by dealing with unfinished business on market access. Members also welcomed the Peoples’ Republic of China and Chinese Taipei as the 143rd and 144th Members of the WTO. Both of these successes boosted confidence in the commitment of Members to cooperate within the multilateral trading system, particularly in support of the further participation of developing countries in the system. In this context it is worth noting that developing countries that have increased their integration into the world economy do better in growth and income-per-capita terms than those whose integration has lagged; it is realized by many, including least-developed countries (LDCs), that openness and participation in the rules-based system provides a stimulus to competition and more efficient resource allocation, in furtherance of growth and development objectives. Success in the DDA will support these objectives.