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This economic policy forum addresses the subject “New Challenges for the WTO: Do we need a Millennium Round?”. Brian Hindley has serious doubts whether the Millennium-Round should be revived. While the EU suggests that an agreement on competition policy should be essential for new multilateral trade negotiations, the Departement of Justice which administers competition policy in the US is less enthusiastic about the idea. The same applies to rules on investment. The author discusses both aspects of the EU’s extended agenda proposals and comes to the conclusion, that what is left is a rag bag. A bag that contains some useful issues, some dubious ones, some downright bad ones, but without enough content to fuel a credible multilateral trade negotiation. His conclusion is, that perhaps the case for multilateral agreements on competition policy and investment can be strengthened and if the Commission can do that, it should. The case for a Millennium Round based on the extended agenda is weak.

Die WTO auf dem Prüfstand: Zur Notwendigkeit einer Millennium-Runde