Analyse the potential benefits of the Doha trade round to the global Essay

Analyse the potential benefits of the Doha trade round to the global economy; what caused the current impasse and what are the dangers now that multilateral trade agreements have stalled - Essay Example The market access negotiations were based on the three key categories, including the following: manufactured goods, agriculture and services (Francois, van Meijl, van Tongeren, 2005; Fung & Siu, 2008). The negotiations on cuts in services and agriculture protections and subsidies have been already initiated in early 2000 and were folded into the Doha Round a year later. The Doha Round negotiations devoted to the agricultural sector have illustrated the complexity of the issue in the global scales, where France and other members of the European Union have shown greater willingness to cut subsidies and protection than the members of the G-20 and the USA did (Fung & Siu, 2008). Despite the negotiation efforts undertaken in 2001 in Doha, Qatar the number of critical market issues still remained ambiguous (Francois, van Meijl, van Tongeren, 2005). The Doha Development Agenda is recognized to be one of the most important events in multilateral trade, which has been initiated during the past decade (Evenett, 2014). However, despite the projected benefits and economic gains, the Agenda has reached an impasse. Failed meeting of WTO members in Seattle in 1999 was followed with a new meeting in November 2001 in Doha, and with a continuation of the meeting in Cancun in 2003. While there have been carried out negotiations in relation to the agricultural subsidies for export and trade liberalization measures, the obligations did not come into force in full extent (Evenett, 2014). Having gained useful experience of operating for several years under the WTO Agreements, developing country Members have shown that results failed to meet their expectations and the benefits received from the package were quite limited (Evenett, 2014). The main reason for the Doha Round impasse is referred to the emerged disagreement between leading players after negotiations have commenced (Evenett, 2014). The Doha Round