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Global trade is at a historic turning point due to the erosion of confidence in the rules-based multilateral system, the rise of unilateral measures, and the paralysis of essential functions of the World Trade Organization (WTO), all of which threaten to undermine one of the fundamental pillars of global economic growth.
In light of this situation, the International Chamber of Commerce (ICC) issued its Call to Action ahead of the Fourteenth WTO Ministerial Conference (MC14), to be held March 26–29, 2026, in Yaoundé, Cameroon.
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Business Impacts
This appeal was presented in Mexico City by John W.H. Denton AO, Secretary General of the global ICC, also known as the International Chamber of Commerce, which institutionally represents more than 45 million businesses in over 170 countries.
From a business perspective, a collapse of the multilateral system would have severe consequences: fewer exports, greater uncertainty, a loss of investment, and direct impacts on employment. And for Mexico, an economy deeply integrated into global value chains, strengthening the WTO is not an ideological choice, but a strategic necessity.
Agreement on Trade, Growth, and Employment
In this context, the ICC proposes the Pact for Trade, Growth, and Employment, a practical roadmap that combines two approaches: on the one hand, a call on governments to launch a formal round of WTO reform negotiations at the Fourteenth Ministerial Conference.
On the other hand, there is a set of immediate solutions that governments and businesses can implement to reduce trade friction, particularly to benefit small and medium-sized enterprises (SMEs), which account for about 90% of businesses and more than 50% of global employment.
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The ICC emphasizes that revitalizing trade begins at the borders through the full implementation of the Trade Facilitation Agreement, the transition from paper-based to digital trade, the use of electronic certificates of origin, and customs modernization—all of which would help reduce costs, accelerate trade flows, and expand the participation of SMEs in international markets.
Beyond national borders, the Pact highlights the urgent need to update multilateral rules to address issues such as industrial subsidies, cross-border data flows, export controls, critical minerals, and the relationship between trade and climate change. The lack of clear and modern rules in these areas fuels distortions, regulatory fragmentation, and geo-economic tensions that ultimately affect businesses and consumers.
Access to trade finance
The ICC also emphasizes that a business-friendly environment requires improving access to trade finance and strengthening dispute resolution mechanisms, so that businesses—especially SMEs—haveflexible and affordable tools to operate and protect their rights.
Ahead of the 14th Ministerial Conference, the ICC urges trade ministers to form a “coalition of the willing” to lead the modernization of the WTO, including through plurilateral agreements, if full consensus cannot be reached. The goal is clear: to preserve the principles of non-discrimination, predictability, and openness, while updating the regulatory framework for the 21st century.
Trade Consolidation
For ICC Mexico, this call represents an opportunity for the country to strengthen its leadership as a champion of rules-based trade, promote more favorable conditions for investment, and consolidate trade as a tool for inclusive development.
As part of ICC Mexico’s 80th anniversary, John W.H. Denton AO and global trade experts agreed that “there is peace in the world only when there is constant and fluid trade between nations. Prosperity helps societies become better and provides greater well-being for their citizens.”
They also emphasized that the agenda of the global ICC and its national chapters, such as ICC Mexico, goes beyond short-term issues: it seeks to build long-term solutions that strengthen cooperation, certainty, and sustainable development.
The message from the global business community, as articulated by John W.H. Denton AO, is clear: the real economy cannot function with a weakened multilateral system, which is why it is essential to modernize the WTO and implement practical solutions to ensure that trade remains a driver of growth, innovation, and quality jobs for future generations.
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