World policy development in 1999

Notwithstanding the outcome of the WTO’s Third Ministerial Conference in Seattle, the state of the world trading environment remained generally sound in 1999. There have been no major trade policy reversals during the year, and there is no evidence of a resort to protectionist policies. On the contrary, a number of countries have undertaken concrete measures to further liberalize their economic and trade regimes. Autonomous and regional initiatives during the year have provided additional impetus to trade liberalization and further integration of the world economy. At the multilateral level, much of the effort focused on preparations for the Third Ministerial Conference, including the possible launching of a new round of multilateral trade negotiations. Although the latter did not materialize, much progress was achieved in narrowing the gaps in some major areas. At the same time, the WTO has proceeded with its core agenda of trade liberalization.