World Trade Report 2007

Sixty Years of the Multilateral Trading System : Achievements and Challenges

On 1 January 2008 the multilateral trading system celebrated its 60th anniversary. The World Trade Report 2007 celebrates this landmark anniversary with an in-depth look at the General Agreement on Tariffs and Trade (GATT) and its successor the World Trade Organization — their origins, achievements, the challenges they have faced and what the future holds.

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The story is one of remarkable change and adaptation, of a system that has contributed significantly to post-war prosperity, but which has not delivered all it could and which still faces formidable challenges.

The Report looks at the circumstances in which the GATT was born and goes on to explain why governments believe it is in their interests to cooperate on trade matters. This is followed by a discussion of how the GATT/WTO as an institution can foster greater international cooperation. Finally, the Report reviews what the multilateral trading system has achieved in six decades and what remains to be done.

The Report also provides brief analytical commentaries on certain topical trade issues. The 2007 Report looks at “10 years of the Information Technology Agreement” and “global imbalances and world trade”.

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