Zrinka Lacković Vincek
University of Zagreb, Faculty of Organization and Informatics, Pavlinska 2, 42 000 Varaždin, Croatia
Vlatka Bilas
University of Zagreb, Faculty of Economics and Business, Trg J. F. Kennedyja 6, 10 000 Zagreb, Croatia
Ivana Dvorski Lacković
University of Zagreb, Faculty of Organization and Informatics, Pavlinska 2, 42 000 Varaždin, Croatia
DOI: https://doi.org/10.31410/EMAN.2018.963
2nd International Scientific Conference – EMAN 2018 – Economics and Management: How to Cope With Disrupted Times, Ljubljana – Slovenia, March 22, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; Faculty of Management Koper, Slovenia; Doba Business School – Maribor, Slovenia; Integrated Business Faculty – Skopje, Macedonia; Faculty of Management – Zajecar, Serbia, ISBN 978-86-80194-11-0
Abstract
This paper analyses the liberalization of international trade in goods and services where the basic aim of the paper is to determine the role and significance of the General Agreement on Tariffs and Trade, the Uruguay Round of Multilateral Trade Negotiations, the General Agreement on Trade in Services, the Agreement on Trade-Related Aspects of Intellectual Property Rights and the role and significance of the World Trade Organization, in order to explain the effect of international trade liberalization on the good and services sector. The paper establishes that the trend in regional integration is becoming prominent throughout the world, primarily due to the slow development of negotiations in the Doha Round concerning integrational processes in Europe and North America. Expenses associated with a possible unsuccessful outcome of the negotiations in the Doha Round are expected to be significant and may lead to missed opportunities for trade and development, increased protectionism and loss of confidence in the trade system, all of which risks a slow weakening of the multilateral trade system over the long term. The potential failure in negotiations would be a significant loss for both developed and less developed countries.
Key words
liberalization, international trade, goods, services
