Trade and Competition Policy in the WTO system

This paper surveys the major options that have been proposed concerning a possible agreement on trade-related anti-trust principles and evaluates both their desirability and feasibility. Three criteria are used to evaluate the options: (i) the extent to which they enhance the contestability of markets for foreign firms; (ii) whether they will enhance the national economic welfare of WTO members; and (iii) their effect on the functioning and integrity of the existing trading system.