The Doha Round of Multilateral Trade Negotiations: Setting and Overture
The contemporary multilateral trading system implies the system operated by the World Trade Organization (WTO). Most nations, including all the principal trading nations, are members of the multilateral trading system. Although it is treated as a de facto global body, some sovereign countries are not yet members. This includes countries like the Russian Federation, Saudi Arabia, Ukraine and several central-Asian republics which were part of the former Soviet Union. Therefore, the qualifier ‘multilateral’ is considered more apt to describe the contemporary trading system instead of ‘global’ or ‘world’. In WTO affairs, ‘multilateral’ also contrasts with actions taken regionally or by other smaller groups of countries. While ‘global trade’ or ‘world exports’ are not incorrect expressions, they are not as precise as ‘multilateral trade’ or ‘multilateral exports’.
KeywordsDepression Europe Income Coherence Expense
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