The book studies the negotiating history of the GATT/WTO since 1947, especially the period following the conclusion of WTO negotiations in 1995. It explains the balancing of rights and interests of different interest groups within the WTO and developing countries. This book throws light on why the Seattle ministerial round failed and how some important issues need to be addressed in the interests of developing countries like India. It argues for a stronger WTO in the interest of sustained growth in developing countries through the multilateral trading system. Many developing countries including India see bilateral and regional trade agreements as an antidote to multilateral negotiations at the WTO.
The authors submit that this is the right time for WTO members to reassess what is at stake and reconsider their positions. There is no doubt, however, that the WTO is important for all concerned being a rules based organization.