The article deals with the current situation prevailing in the multilateral trade negotiations and examines the reasons that prevent the successful conclusion of the Doha Round. It is emphasized that new challenges arise not only to the WTO, but also to other international organizations that constitute the emerging global governance system. It is shown that the future development direction for the WTO might be increasing the role of plurilateral agreements. It is concluded that accession to the WTO had a positive effect on Russia’s economy. The major decisions of the last two conferences of the WTO are evaluated in terms of Russia’s interests.