An open trading system has long been recognized as an important element of sound economic policy, and trade liberalization as a necessary step for achieving it. Whereas the multilateral process of trade liberalization under the General Agreement on Tariffs and Trade (GATT) has been successful in opening global trade in manufactures, expanding this process for other sectors, such as agriculture, has proved very difficult to achieve. Difficult questions arise owing to the complexity of the issues and the wide range of interests across countries. In the new round of global trade negotiations under the World Trade Organization (WTO), different perspectives on agriculture have produced a highly contentious agenda. This book analyzes the key issues, diverse interests, challenges, and options for agricultural trade liberalization in the new trade agenda of the WTO, and their implications for both developed and developing countries.

The book is based on the key findings emerging from a major program of research, policy analyses, and capacity-building on agriculture and the new trade agenda in the WTO. The chapters have been prepared by many of the leading specialists in the fields of agriculture and international trade. Major policy questions addressed in this book include: What are the interests and options in the new WTO trade negotiations in agriculture and the new trade agenda from a development perspective? What new WTO trade rules on agriculture and trade policy reform would provide the largest benefits? Who would be the winners and losers under different rules?