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The Shortcomings of the Current International Trade System

not portray one of free trade. As we begin a new millenium, the international trade system stands at a crossroads. Will trade reform prevail, to help the interests of the South and create an equal and fair set of rules? Or will nations succumb to a growing backlash against reforms, and retreat behind more and more borders, damaging opportunities for growth? The goal of a system that truly exemplifies free trade should still continue to be the ultimate concern of all countries. A productive system can only exist once all actors are treated on a level playing field. There is a need for revision of current international trade rules. In the future design of the rules more attention should be paid to the level of development and industrial capacity of developing countries. To improve equitability developing countries must remain proactive in their push for reform. Developing countries should formulate a clear trade and industrial policy to enter into negotiations with. Moreover, in their common negotiation strategy, they should not settle on an unbalanced agreement, but instead attempt to coordinate trading rules that are sensitive to helping their development needs and most of all universal applied. ...

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