This month's issue of the FAL Bulletin takes a panoramic view of the present World Trade Organization (WTO) trade negotiations, soon to embark on the Sixth Ministerial Conference in Hong Kong (Special Administrative Region of the People's Republic of China ). Reduced expectations on the outcomes of this meeting due to the scant progress on critical issues - such as the liberalization of the agricultural sector - increase the challenge to conclude the Doha Round by the end of 2006. The governments of the region have a role to play in the direction this process may take. Additional details on the progress of these objectives can be obtained in chapter II of Latin America and the Caribbean in the World Economy, 2004 Trends 2005.