Trade & investment

The benefits of Doha

  • 11 November 2016
ICC policy statement old

ICC calls upon decisive leadership from both OECD member countries and G20 emerging economies to reach an ambitious, balanced and comprehensive Doha Round agreement.

ICC is convinced that a buoyant expansion of international trade is crucial to recovering and sustaining the health of the world economy. An open global economy fosters economic growth, job creation, and prosperity.

ICC urges WTO members to make the necessary trade-offs to successfully conclude an ambitious, balanced and comprehensive Doha Development Agenda in 2011. The benefits of completing Doha at this juncture, coupled with the risks of non-Doha, should far outweigh any reservations on how to bridge the remaining gaps and produce a final agreement.

2011 presents a critical window of opportunity for completing the Doha Round. In Seoul, G20 leaders voiced a “strong commitment” to promptly conclude the end game of negotiations. This renewed political backing should be converted into tangible progress at the negotiating table in Geneva. Revised texts in all areas of the negotiation are needed by the end of the first quarter of 2011. Most of the work has been done and what remains to be negotiated requires reengaging on a few politically sensitive issues and remaining open to substantive give and take. Beyond the specific adjustments to be made, WTO members should realize that concluding Doha in 2011 would contribute strongly to stimulating the world economy just emerging from recession.

Benefitting from Doha’s considerable gains:

1. Insuring against protectionism
2. Stimulating the global economy
3. Creating employment opportunities
4. Mitigating climate change