News & Insights

Geneva, Switzerland – National Foreign Trade Council (NFTC) President Rufus Yerxa today released a policy brief during the World Trade Organization (WTO) Public Forum on the importance of reforming the organization in order to strengthen the open, rules-based trading system.

“The current environment surrounding international trade and trade policy makes it more important than ever that we work to strengthen and update multilateral institutions such as the WTO that support the rules-based trading system and discourage economic nationalism and mercantilist policies around the world,” said Rufus Yerxa. “The WTO is crucial to the success of the world trading order and we hope this paper will help members consider changes that will bring the organization into the 21st Century.”

The paper outlines four recommendations for consideration by WTO members:

1. Update the rulebook for the 21st Century to align business, development and sustainability goals;
2. Improve existing WTO rules;
3. Resolve the Appellate Body crisis and guarantee a fully-functioning dispute settlement system; and
4. Reinvigorate the committee system to facilitate learning and best practices among WTO members.

To read the paper, click here.

About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.

Follow us on: