The World Trade and Development Report 2003 examines the trends and asymmetries in the emerging multilateral trading system from a development perspective. It also outlines an agenda for developing countries for the Cancun Ministerial and beyond to restore the development focus and - more importantly - popular confidence in the multilateral trading system. The Report argues that the trade liberalization should be seen as a 'means' and not the 'end by itself'. The 'end' beyond any doubt should be sustainable development in all parts of the world, with principles of efficiency and equity providing the basis.