Abstract
Implementation of the results of Uruguay Round will bring about significant increases in trade, investment, income and welfare for developing countries. This derives from increased market access to developed countries' markets and from enhanced efficiency originating from their own liberalization commitments, although the distribution of benefits will be uneven. Developing countries will also benefit from improved rules for trade and investment coupled with enhanced institutional enforcement of these rules, and greater exposure to global competition within a more predictable, secure and credible international trading environment. To maximize the benefits, however, developing countries will need to continue with recent unilateral reforms to improve their supply response.
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