Suresh Prabhu’s litmus test: Marrakesh to Buenos Aires?
It remains to be seen how commerce minister Suresh Prabhu negotiates at the WTO meet in Buenos Aires when the threat for multilateral trade liberalization comes from the US
In 1994, Marrakesh heralded the onward march of multilateral trade liberalization. The fourth-largest Moroccan city and one of the busiest towns of Africa became famous after the Marrakesh Agreement led to the creation of the World Trade Organization (WTO). That agreement was signed by 124 countries, including India, on 15 April 1994. It was a pact which was hammered out after 12 years of Uruguay Round of multilateral trade negotiations. The Marrakesh Agreement marked the high tide of globalization.