The international trading system appears frozen in a perpetual crisis, with no magic reset button to take us back to a “normal” state of affairs. The COVID-19 pandemic exacerbated these tensions, by laying bare the divides that have made cooperation so difficult. As countries turn inwards, there is a greater need to revitalize the spirit of multilateralism that has helped us navigate the aftermath of crises past. The role of the World Trade Organization is vital in that regard, not only to keep the lines of trade open, but to help us craft new rules that reflect the reality of our complex trading environment, and to resolve disputes without resorting to endless trade wars.

There are three pillars of the WTO that could benefit from a reboot. First, negotiations, which have operated in fits and starts, and at times, collapsed altogether. From fisheries subsidies to ecommerce, there is a broad range of issues we need to act on, but the political will to resolve the gaps between Members remains weak. Second, dispute settlement, which has entered a new era of uncertainty as the Multi-Party Interim Appeal Arbitration mechanism charts a new course, and the Appellate Body remains defunct. Third, the lesser known areas of WTO governance, such as committee work and transparency mechanisms that have functioned well during times of flux, but whose efforts remain underappreciated, warrant careful examination and replication.

To get ourselves to the other side of the current challenges we face will take creative thinking, fresh perspectives and a willingness to imagine how we can build on the success we have had to craft a more resilient and responsive international trading system that can meet the crises of the future.

Each panelist will offer a diagnosis of these current challenges, raise some key questions for reform, and offer a proposal for a way forward.

This session will be simultaneously translated into French, Spanish and English (when needed) via the Interactio application, by entering the code GTW2020 (please use headphones). Open the application in your Web browser or download it for iOS Mobile App or for Android App.