The Senior Analyst Jan. 2014 | Page 6

THE SENIOR ANALYST The emerging era of renewed Multilateralism “It always seems impossible until it’s done”. – Nelson Mandela It seemed that WTO was losing relevance in current times but the recent turn of events suggest otherwise. WTO, in its Bali ministerial conference, has been able to deliver results that are a breakthrough in the history of multilateral trade across the globe. The stalled Doha development agenda that had collapsed in December 2008 over the treatment of agriculture subsidies and tariff reduction has now being seen in new light. The ninth ministerial conference in Bali has revived the confidence of the world in WTO. According to Robert Azevedo, the directorgeneral of the WTO, this magnificent and momentous deal has renewed hope in a global trading s