The development process can advance more rapidly than ever before in the new global economy. While opening their economies to trade and investment is a necessary condition for developing countries to achieve sustained high growth and reduce poverty, it is by no means a sufficient condition....

The multilateral trading system has delivered successive rounds of trade liberalisation and established mechanisms to protect the interests of trading nations. The result has been growth for those nations that have recognised the importance of openness and established a domestic policy framework...

As trade barriers at the border have fallen through successive trade negotiations, domestic regulation has emerged as a source of residual but potentially significant trade barriers. Recognising the importance of participating in intensified global competition, countries increasingly see...