YOU AIN'T SEEN NOTHIN' YET:

First, a WTO agreement on trade facilitation should be concluded so as to reduce red tape and simplify customs and border controls. The resulting improvement in trade flows could generate more than $1 trillion in world export gains.

Second, WTO members should expand coverage of the Information Technology Agreement, a highly progressive measure agreed to in 1996 that committed the signatory nations -- who were responsible for more than 90 percent of the world's IT trade -- to eliminate all tariffs on 180 products in the IT sector. In the intervening years, countless IT products have come onto the market, some of which have resulted in trade disputes, growing out of uncertainty as to whether these products are covered by the ITA. A renewed commitment to refrain from imposing tariffs on IT products is needed.

Third, there is a compelling need to further open markets to international trade in services, given the growing role of services in today's global knowledge-based economy. Twenty-one like-minded economies -- representing nearly two-thirds of the global trade in services -- are about to start negotiating a comprehensive liberalization of trade across a range of services. The initiative, known as the International Services Agreement, will also focus on securing greater transparency and predictability regarding regulatory barriers to trade in services, while addressing the emergence of new services-related issues in the global marketplace.

Expanded trade in services will benefit service providers and their workers in developed and developing countries. It will also benefit consumers of services, including those in the manufacturing and agricultural sectors, the operations of which are increasingly dependent on the cross-border supply of services. And the successful conclusion of an International Services Agreement will provide a template that other nations can use when liberalizing their services sectors.

Fourth, we need to help the least-developed countries by enabling them to export to developed markets on a duty-free and quota-free basis. While some developed markets are already meeting this objective, others should make it a priority. Such a move will help accelerate the integration of the least-developed countries into the global economy.

Follow @brothersjudd