The circumstances and conditions under which the international exchange of telecommunications traffic is taking place are changing very fast. This is due to technical, market and regulatory developments. These developments are briefly described but the emphasis lies on the influence of the international Basic Telecommunications Agreement of the World Trade Organisation (WTO) on cross-border interconnection. This agreement might be another impulse to change the way international telecommunications traffic is traded. The asymmetric liberalisation of markets could result in tensions between national authorities, leading to reciprocity demands and conflicts. Perhaps the WTO could provide an answer to this. However, in, this article it is argued that, in the end, it is the national regulatory authority that really determines the terms and conditions for cross-border interconnection and has to deal with differences between countries.