7. The WTO

The strengthening of the WTO remains Denmark’s first priority in the area of trade policy. With its small and open economy, Denmark has a profound interest in a rule-based international trading system. The WTO remains the most effective way of expanding and managing trade in a rule-based system that can ensure increased trade flows to provide sustainable development for all.

An enhanced multilateral trade system is also the best way to serve the interests of developing countries. The negotiations in the Doha Development Round have already resulted in significant offers - much more than in previous rounds -that will be of immense benefit to the developing countries. However, these offers will not materialise without a successful conclusion of the round. Furthermore, failure of the Doha Round could lead to an increase in trade protectionism around the world and might weaken the WTO as the cornerstone of international trade. Denmark therefore firmly supports a successful conclusion of the Doha Development Round.

Danish trade policy is primarily conducted within the framework of the EU, as trade policy is one of the EU’s exclusive competencies. This is an advantage because the EU works as a catalyst for Danish trade policy interests as a result of the widely shared interest in promoting trade liberalisation.