World Trade Organization Ministerial Conference of 2003

Trade ministers from 146 members of the World Trade Organization, representing 93 percent of global Commerce, convened in Cancun, Mexico, in September 2003. The goal of this meeting was to set a direction for nations among the World Trade Organization to come to agreements and negotiations about agriculture, non agricultural market access, services, and special treatment for developing countries. The negotiations were supposed to be reached by January 1, 2005. Although the agreements had a set date to come to terms, the Cancun Ministerial Conference ended up failing in their mission and did not come to any firm decisions to fix the problem. They failed to make global trade negotiations concrete and founded at that time, so the next steps were uncertain. Although the intentions of this Organization were noble, they were unsuccessful but opportunity was sought after to learn from this failure. Within the committee, there exists a hierarchy within the World Trade Organization. It is made up of trade Administrators that come from all the different sectors of the WTO. The Fifth Ministerial Conference of the World Trade Organization, also known as the WTO Fifth Ministerial Conference and abbreviated as MC5, was held at the Cancún Centro de Convenciones, Cancún, Mexico from September 10 to September 14, 2003.

The General Agreement on Tariffs and Trade (GATT) was created in 1947 after World War II in an attempt to encourage and regulate a global Free Trade market. This agreement between countries later evolved into the World Trade Organization following the Uruguay Round of 1994, With the goals of lowering Tariffs and taxes worldwide, the committee is designed to voice the opinions and needs of all countries big and small. Of the larger topics that is constantly addressed is an Open Market on crops and food. This committee has helped Developing Countries enter a new era of a worldwide sharing and trading of goods. In Doha, Qatar, in 2001, the World Trade Organization met to discuss the potential of a new focus upon the development and progression of developing countries concerning their free, open markets on top of abolishing certain lingering agreements. These agreements included tariffs, taxes, and agreements concerning trade of goods (specifically food such as grain, corn, and tobacco).

...
Wikipedia