The Participation of Developing Countries in the International Trade System

Abstract

The aim of this article is to highlight the growing role of developing countries and the strategies to strengthen their positions within the international trade system. The research employs a logical, systematic approach, along with comparative methods, scientific analysis, and synthesis. The informational support is drawn from official documents of the IMF, World Bank, WTO, UNCTAD, and the European Commission, as well as international statistical data and specialized publications from various countries. International trade significantly impacts member countries, stimulating economic growth, promoting technological progress, facilitating competition, mitigating economic shocks, and creating jobs. A number of countries, particularly China and India, where trade liberalization was not an end in itself but rather a tool for national economic development, have achieved significant success, becoming economic giants and attaining economic growth rates generally higher than the global average. However, the current internal and international policy mechanisms have not helped most of the least developed countries overcome the major developmental challenges they face. One of the WTO’s objectives remains the creation of a mechanism to facilitate greater integration of developing countries into international trade. To enhance the participation of developing countries in the international trade system, the main areas of negotiation and cooperation within the WTO include: flexibility in industrial development, e-commerce for development, duty-free and quota-free market access for the least developed countries, regional trade agreements, and preferential trade agreements. UDC: 339.5(1-773); JEL: F10, F14.