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The global economic and financial crisis has awakened protectionist
sentiments around the world, and policymakers have failed to
actively seek trade liberalization. In light of this, some have
proposed abandoning the Doha Round and starting over with a new
agenda. Figuring Out the Doha Round argues that this is far from
the time to drop the Doha Round and that it is now more important
than ever to sustain political support for the rules-based
multilateral trade system.This important new study recommends
modest increments in market access commitments by G-20 countries
beyond tariff and subsidy cuts in agriculture and nonagricultural
market access (NAMA), and policy reforms in customs procedures and
related areas that slash red tape and cut transactions costs for
exporting and importing goods and services. With additional effort
by the G-20 countries, WTO countries can put together a Doha
package that is both ambitious and balanced between the interests
of developed and developing countries. The study finds that
following these recommendations can lead to a world GDP gain of
almost $300 billion a year.
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