The on-going Doha Round of multilateral trade negotiations has colossal long and short term significance for the global economy. It has much to achieve for the WTO members, irrespective of the fact whether they are industrial or developing economies or the least developed countries. It was launched in Doha, Qatar, following the Fourth Ministerial Conference of the WTO during 9th through 13th November 2001. Trade ministers of one hundred and forty-two WTO member countries had participated in the Doha Ministerial Conference. Although its agenda was not finalized until quite late, it is intended to be a large round of MTNs, the largest so far, and covers a good number of critical areas of multilateral trade regime. After a great deal of debating, disagreeing and foot dragging, confliciting positions of the members were brought into harmony. The long awaited and crucial framework agreement, or the so-called July Package, was not signed until the 1st August 2004. If the partcipating WTO members heed to look at the Doha Round through the lenses of the global public good, their perspective would certainly change and the usual intransigence among the negotiating members or country groups - which led to failure of the Cancun Ministerial Conference in September 2003 - is sure to wane.