The WTO New Round: Issues, Prospects and Policy Implications

• Main Authors: Wook Chae, Chang-Bae Seo
• Format: Article
• Language: English
• Published: Korea Institute for International Economic Policy 1999-03-01
• Series: East Asian Economic Review
• Subjects: WTO; Trade Rules; World Trade Policy; Millennium Round
• Online Access: http://dx.doi.org/10.11644/KIEP.JEAI.1999.3.1.36

At present WTO is working on the process for building up the "new bout" (or millennium bout, or "the new ethics") which is aiming at controlling the new phase of International Trade in the 21st century. According to the scale and dimension of the consultation and the character of the target field, which are under discussion, it is estimated that the "new bout" will change the order of the international trade of the 21 century in a big way. It was also predicted that the scale, method and time of the consultation of the "new bout" was to be published in the second half of 1999 on the 3rd cabinet council of WTO which will be held in America. Now, South Korea should analyze the expectant effect which comes from the "new bout" and realizes that the important time in which the integrated and systemic consulting strategy which is based on the macro trade profit must be established is coming.