1、Reforming trade rules to drive developmentPolicy insights Adobe StockGlobal tradeupdateMARCH 2026HIGHLIGHTS1234As the guardrails of global trade erode,long-term certainty is giving way to persistent policy volatility.Developing countries have the greatest developmental stake in a well-functioning mu
2、ltilateral trading system.Reform of the World Trade Organization(WTO)must restore certainty and predictability in international trade rules.A fully functioning dispute settlement system is essential to ensure that the smallest and most vulnerable economies can resolve trade disputes on an equal foot
3、ing.A rules-based international trading system helps ensure that trade supports both economic growth and sustainable development.5MARCH 2026Global tradeUpdate2Policy insightsMARCH 2026Global tradeUpdatePolicy insights Adobe StockThe multilateral trading system has played a fundamental role in shapin
4、g the global economy over the past several decades.Through a framework of negotiated rules and commitments,it has reduced discrimination in international trade,supported the expansion of cross-border commerce,and contributed to economic growth across many regions of the world.In recent years,however
5、,the predictability of global trade rules has weakened.Some economies have moved away from multilateral trade principles toward the use of trade measures to advance industrial policy objectives,national security priorities,and geopolitical competition.This shift has increased uncertainty and volatil
6、ity in market access and,together with the absence of a fully functioning dispute settlement system,has undermined the ability of international trade to support development.Against this backdrop,discussion on reform of the World Trade Organization(WTO)has become increasingly important.On March 2629,