Transgenic plants are now an integral part of contemporary agriculture. Globally over 90 million ha of transgenic crops were grown in twenty-one countries during 2005. Double-digit percentage increases in annual adoption rates have been recorded every year since the commercialisation of the first transgenic crops in 1996. The development and commercialization of transgenic plants is tightly linked with world trade, globalization, food security, environmental and consumer protection and intellectual property. In this article, we discuss the recent advances and current trends in transgenic crop development and their deployment. We also address some of the non-scientific issues that need to be resolved before these crops can realize their full potential in order to deliver a more sustainable and environmentally friendly agriculture. Finally we will highlight the importance of transgenic crops in contributing towards food security and poverty alleviation in the developing world.