As well as the in-built agenda of agriculture and services, the new round must have implementation issues at its heart. And it should also encompass industrial tariffs, anti-dumping, and other issues that are important to developing countries. The economic case for a new WTO round is compelling. That is equivalent to adding an economy the size of Canada to the world economy. Of course, these are only estimates.
Reasonable people can quibble about the exact size of the gains from a new round.
It is not politically correct these days to say it. But everyone needs the US, EU and Japanese economies to grow and to be importing as well as exporting. We have already made some progress over the past year in improving market access for least-developed countries. I am proud to say that my country, New Zealand, and also Norway, have agreed to offer full access to all LDC exports. The European Union's Everything but Arms proposal, is a valuable contribution.