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Paper short abstract:

This paper aims to present how to improve the governance of global trade and the WTO to better advance sustainable development and respond to the needs of developing countries. Especially it will be characterized the role of rising powers in shaping sustainable trade regime.

Paper long abstract:

This paper aims to present how to improve the governance of global trade and the WTO to better advance sustainable development and respond to the needs of developing countries. Especially it will be characterized the role of rising powers in shaping sustainable trade regime. Paper will also focus on implications of agricultural trade liberalization for the sustainable development of developing countries.

Developing countries more efficiently want to execute their interests in the current round of trade negotiations. It is facilitated by consolidation of the opinions of developing countries forming the G-20 Group, which have become a significant force, able to stand against the negotiation position of the highly developed countries. The G-20 Group member states refused to open their market until farmers from the developed countries stop being subsidised by their countries. These countries firmly demanded a change in the politics of the rich countries related to agriculture and market of agricultural products. Significant limitation of agricultural subsidies was demanded for, a change in customs politics and decreasing import limits for this group of goods. According to G-20 Group member states, stopping subsidies for agriculture would lead to its much faster integration with the world trade system.