Discover the World News Forecast . . . FIRST in Foresight Journalism

INDONESIA 3-6 Dec 2013 WTO ministers hold biennial meeting in beautiful Bali

A new Director-General will be presiding at the 9th Ministerial Conference of the World Trade Organization at the beach re

December 3, 2013 - NULL

INDONESIA 3-6 Dec 2013 WTO ministers hold biennial meeting in beautiful Bali

A new Director-General will be presiding at the 9th Ministerial Conference of the World Trade Organization at the beach resort of Bali. He or she will replace Pascal Lamy, who retires as WTO chief in August. Nine candidates, the largest-ever field, want Lamy's job. The successful candidate has the task of coaxing the fractious 157-nation body to conclude the Doha Round of free trade negotiations, a task that eluded Lamy, or help the body reinvent itself. After years of deadlocked talks, the successor's challenge will

INDONESIA 3-6 Dec 2013 WTO ministers hold biennial meeting in beautiful Bali

A new Director-General will be presiding at the 9th Ministerial Conference of the World Trade Organization at the beach resort of Bali. He or she will replace Pascal Lamy, who retires as WTO chief in August. Nine candidates, the largest-ever field, want Lamy's job. The successful candidate has the task of coaxing the fractious 157-nation body to conclude the Doha Round of free trade negotiations, a task that eluded Lamy, or help the body reinvent itself. After years of deadlocked talks, the successor's challenge will be quashing growing doubts about the benefits of multilateralism and of the WTO.

A WTO Public Forum in 2012 addressed the question for "relevant stakeholders of the multilateral trading system" of whether multilateralism is in a state of crisis.

The global trading body does reinvent itself periodically. The WTO's creation on 1 Jan 1995 marked the biggest reform of international trade since WWII. According to the WTO, it also brought to reality -- in an updated form -- the failed attempt in 1948 to create an International Trade Organization. The General Agreement on Tariffs and Trade (GATT) emerged, but by the 1980s the system needed a thorough overhaul. This led via the Tokyo Round to the Uruguay Round, the Marrakesh Declaration and ultimately to the WTO. (WRITTEN JAN 2013)

KEYWORDS: 9th Ministerial Conference, World Trade Organization, World Trade Organisation, Doha Round, GATT, multilateralism, world trade, multilateral trade, multilateral trading system, Pascal Lamy, General Agreement on Tariffs and Trade, Tokyo Round, Uruguay Round, Marrakesh Declaration

RELATED READING:

WTO
http://www.wto.org/index.htm

Costa Rica, Ghana, New Zealand Favored for Top WTO Job (Bloomberg 21 Jan 2013)
http://www.bloomberg.com/news/2013-01-21/costa-rica-ghana-new-zealand-favored-for-top-wto-job.html

Gonzalez Says Costa Rica's History Helps Qualify Her to Lead WTO (Bloomberg 23 Jan 2013)
http://www.bloomberg.com/news/2013-01-23/gonzalez-says-costa-rica-s-history-helps-qualify-her-to-lead-wto.html

World Trade Organisation's Pascal Lamy: Capitalism must change
http://news.bbc.co.uk/2/hi/programmes/hardtalk/9786725.stm

The Future of Global Trade (The Street 23 Jan 2013)
http://www.thestreet.com/story/11820531/1/the-future-of-global-trade.html?cm_ven=GOOGLEN

What a big American port says about shifting trade patterns (Economist 19 Jan 2013)
http://www.economist.com/news/finance-and-economics/21569729-what-big-american-port-says-about-shifting-trade-patterns-view-bridge

Date written/update: 2013-12-03