Will Martin - The Uruguay Round: widening and deepening the world trading system

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title	:	The Uruguay Round : Widening and Deepening the World Trading System Directions in Development (Washington, D.C.)
author	:	Martin, Will.; Winters, L. Alan.
publisher	:	World Bank
isbn10 | asin	:	0821334883
print isbn13	:	9780821334881
ebook isbn13	:	9780585264851
language	:	English
subject	Uruguay Round--(1987-1994) , International trade, Developing countries--Commerce.
publication date	:	1995
lcc	:	HF1713.M342 1995eb
ddc	:	382.1
subject	:	Uruguay Round--(1987-1994) , International trade, Developing countries--Commerce.

Page i DIRECTIONS IN DEVELOPMENT The Uruguay Round Widening and Deepening the World Trading System Will Martin and L. Alan Winters

Page ii 1995 The International Bank for Reconstruction and Development/THE WORLD BANK 1818 H Street, NW Washington, DC 20433 All rights reserved Manufactured in the United States of America First printing October 1995 The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. ISBN 0-8213-3488-3 The authors are grateful to all those who helped in producing this summary: the authors and discussants at the conference "The Uruguay Round and the Developing Economies," January 1995; the reviewers of earlier drafts: M. Abreu, M. Ahmed, C. Bach, H. Corbet, A. Enders, J. M. Finger, N. Kirmani, S. Lateef, P. Lloyd, P. Low, A. McCalla, C. Michalopoulos, H. Nordstorm, S. Page, S. Rajapatirana, D. Robertson, M. Selowsky, R. Shape, and T. N. Srinivasan; and the editors, Vince McCullough and Bruce Ross-Larson.

Page iii Contents Foreword v Abbreviations vii The Uruguay Round: Creating a Global Trading System 1 A Turning Point for the World Trading System 2 $200 Billion a Year in Gains 4 Big Reductions in the Protection of Manufacturing 9 Few Reductions in Agriculturebut Greater Transparency and a Framework for the Future 14 For Services, Rules but Few Reductions in Protection 20 Trade-Related Intellectual Property RightsTRIPs 24 Legalized Backsliding 26 Developing Countriesinto the Fray 29 References 30

Page v Foreword The outcome of the Uruguay Round is a milestone for developing countries. However, this initial step of integrating developing countries into the global economy opens a new range of challenges and opportunities. This booklet evaluates the outcome of the Round and outlines ways we can move forward. It also suggests strategies for implementing the agreement, proposes how it can be extended, and provides part of the analytical base for future multilateral negotiations aimed at accelerating the integration of developing countries into the world economy. This process is important for everyone. For example, U.S. and Canadian exports to developing countries are already larger than exports to the European Union or Japan. By the end of the next decade, we expect developing countries to take over a third of industrial country exports, an increase from approximately a fifth today. This booklet is a synopsis of the papers, feedback, and discussion from the World Bank's second conference on The Uruguay Round and the Developing Economies, held January 2627, 1995. The Bank's first conference on the Uruguay Round was in Bangkok more than eight years ago, shortly after the opening of the Round. It was clear even then that the developing economies would play a much more important role in this Round than previously. Developing countries not only participated in formulating new rules for the world trading system. They also made important market access offers in the conventional area of reducing tariff protection on manufactures trade, as well as in areas new to the trade liberalizing process, such as in services and in agricultural products. Why should the Development Economics Vice Presidency of the World Bank be concerned with this agenda? First, developing countries are increasingly open, and they depend heavily on the health of the international trading environment. The international economy is the source of supply for some consumption goods, and for numerous investment and intermediate goods and services; investment funds and new technologies; the competitive pressure that keeps both firms and governments efficient; and demand for exports and for income flows from migrants. In short, an open economy has a strong and direct interest in the world economy and its trading rules.

Page vi Second, protected developing economies frequently request World Bank advice and assistance to become more open. The World Bank seeks not merely to reiterate received wisdom and generalities, but also to provide detailed and practical advice, often based on analyses like those summarized in this booklet.

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