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The prospective WTO millennium round of negotiations will highlight critical economic issues regarding the application and implementation of the WTO rules to international trade in goods and services. In this text a group of academics consider the agenda and areas of interest for the next round in light of Seattle, the functions of the WTO and competition policy issues arising from trade liberalization. This is followed by a focus on a wide range of WTO-specific economic issues and debates including: state trading and state aids; regional integration; agriculture, including the EU-US banana dispute; international investment; patents; and financial services.