The World Trade Organisation (WTO) is the main body
dealing with the setting of multilateral rules for trade between
nations. The failure in Seattle in November 1999 to start a new
round of multilateral trade negotiations (the so-called Millennium
Round) showed that there is a large diversity of views on various
subjects. There is no consensus on what issues should be included in
a new round of negotiations nor on how to deal with issues that are
part of the built-in agenda (agriculture, services and intellectual
property rules).
In addition, there is currently a debate on the WTO
as an institution. Critics feel that the influence and the mandate
of the WTO are too big, both in absolute terms and in comparison
with its current governance structure. The WTO can by itself impose
trade sanctions, for example. Yet, at the same time, there is much
to be gained from a strong, rule-based multilateral trading system.
In this section you will find: