5.1 per cent) among developing countries. It is unlikely that the free market works as freely when the exporters are constrained by debts and repayment obligations in tight schedules. The ability of some of the exporters to adhere the PPP or other criteria remains is severely constrained. Multilateral trade policies under the WTO regime should address these issues on a much broader and clear footing than conducted so far.
The trade regimes governing (rather ungoverning) DPG is a continuing global environment-trade problem. The failure of the WT/CTE to come up specific multilateral trade rules could necessitate a separate MEA — somewhat similar to the Montreal Protocol to phase out the CFCs. This does not portend a great role for the WTO system. The lesser the WTO framework and its subsidiary organization appreciate the need for effective integration of trade and environmental issues, the greater the potential for this unique institution to be marginalized and undermined over a period of time. Hence the task lies ahead for the WTO to come up with greater timeliness and focus to the relevant principles and practices.
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