NEW DELHI: Member countries of the World Trade Organisation will need to show better political leadership, more pragmatism and a spirit of realism to break the deadlock hampering the progress toward concluding the Doha Round, said Pascal Lamy, Director-General, WTO during his meeting with CUTS International here.
Lamy said the multilateral trading system of the future will have to address a number of global challenges, including “the blurring of the edges between trade policy and others such as exchange rate, climate change, food security or energy policies.”
According to him, the multilateral trading system of the future is likely to continue to feel the pressure of protectionist tendencies. “Trade protectionism would be a recipe for disaster but continued support for more open trade will require other forms of support: in the form of better social safety nets, investment in technology, in education, and in infrastructure.”
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