3 Review(s)

The World Trade Organisation (WTO) came into being as a result of the evolution of multilateral trading system starting from the establishment of the General Agreement on Tariffs and Trade (GATT) in 1947. The protracted Uruguay Round negotiations spanning the period 1986-94, which resulted in the setting up of WTO, substantially extended the reach of rules and disciplines related to trade in goods, services as well as trade-related intellectual property rights (TRIPS). The Singapore Ministerial Conference saw the WTO members negotiating an Information Technology Agreement, while Doha Round aimed at working towards a global trade agreement to liberalise markets, boost agriculture, manufacturing and services, reduce poverty and promote development. Serious differences in the ambition levels of WTO members arose at the Cancun Ministerial Conference on the two most contentious issues, namely agriculture and the so-called Singapore issues.