Launched on the margins of the OECD Forum in Paris this week, From Drift to Deals: Advancing the WTO Agenda, sets out a roadmap for a “grand bargain” to bring the long-stalled Doha Round of trade talks to a conclusion and restore the centrality of the World Trade Organization (WTO) as a forum for trade liberalization.

The report—developed by the respected Peterson Institute think-tank—suggests that advanced economies should make “serious concessions” in the Doha Round talks to forge a deal on farm reform and market access for manufactured goods.

In return, it is suggested that developing countries should agree that new plurilateral agreements can be added to the WTO framework without the unanimous consent of all 161 member governments. This constitutional change would enable the WTO to realize its “full potential” to open-up new realms of global commerce—even though not all members may be prepared to liberalize trade and investment flows at the same pace.

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