To help appreciate the outcome of the negotiations, this paper will attempt to provide answers to the following questions. Why did the agreement take as long as 7 years to negotiate? What were the major obstacles to reaching an agreement? How did the negotiators reconcile differing points of view on issues such as the role of border measures and domestic policy measures in agriculture? What has been accomplished during the negotiations? Was the agreement successful in reforming agriculture? What are the likely effects on agricultural commodity prices in implementing the agreement?