WTO reform at a critical juncture: business, policymakers and institutions in dialogue

The global trading system is under unprecedented pressure. Rising geopolitical tensions, increasing unilateral trade measures and growing fragmentation are challenging the foundations of the multilateral system. Yet, as highlighted during a round table hosted on 29 January, abandoning the system would come at a far greater cost than maintaining and reforming it.

Read: The impact on developing economies of WTO dissolution

Against the backdrop of the upcoming 14th WTO Ministerial Conference (MC14) in March, ICC Netherlands and VNO-NCW convened a closed-door dialogue bringing together Dutch businesses, policymakers and international institutions. The discussion formed part of ICC’s global initiative to revitalise the multilateral trading system ahead of MC14.

A timely exchange ahead of MC14

The round table brought together representatives from Dutch companies active in technology, maritime, agrofood, legal, healthcare and banking, alongside key institutional voices:

• Andrew Wilson, Deputy Secretary General (Policy), ICC Global, on ICC’s global initiative to revitalise the trading system

• Mark Jacobs, Director International Trade Policy & Market Regulation, Ministry of Foreign Affairs of the Netherlands, on national policy priorities and the MC14 framework

• Audrey Goosen, Ambassador of the Kingdom of the Netherlands to the WTO, on perspectives from the Dutch Permanent Mission in Geneva

• Bernard Kuiten, Head of External Relations, World Trade Organization, on the latest developments within the WTO

The exchange was moderated by Jasper van Schaik, board member of ICC Netherlands.

Notably, the Dutch government’s MC14 Framework Instructions were published less than 30 minutes before the start of the round table, adding immediacy to the discussion. This allowed participants to reflect in real time on the Netherlands’ official positioning ahead of the Ministerial Conference and to exchange views on how these priorities translate into practice for businesses operating across global value chains.(Link to the MC14 Kaderinstructies)

The system is under strain — but indispensable

A key message emerged clearly from the discussion: the multilateral trading system is under strain, but it remains indispensable. For the Netherlands — one of the world’s most trade-dependent economies — an open, predictable and rules-based system is not optional. A weakened WTO would directly affect Dutch competitiveness, supply chains and long-term growth.

Participants underlined that reform does not mean abandoning multilateralism. Rather, it means adapting the system to today’s economic and geopolitical realities while preserving its core principles. In the current context, keeping the system functioning already counts as success.

Trade, geopolitics and fragmentation

The discussion highlighted how trade policy is increasingly inseparable from geopolitics, security considerations and industrial policy. Export controls, subsidies and strategic dependencies now shape trade decisions in ways that go far beyond economics alone.

While bilateral and plurilateral agreements may appear faster and easier to conclude, participants cautioned against the risks of fragmentation. A move away from common rules risks creating parallel trade regimes, leaving smaller and developing countries behind and undermining predictability for business. A rules-based multilateral framework remains essential for economic security.

Reform challenges and open questions

Participants acknowledged that WTO reform is necessary but politically difficult, particularly given consensus-based decision-making among 164 members. Discussions touched on possible avenues such as coalition-based approaches, plurilateral initiatives and standstill arrangements during reform phases.

Key open questions remain: what does success look like? How far can reform go without losing legitimacy? And can the WTO adapt quickly enough in response to geopolitical realities?

The role of business

A recurring theme was the crucial role of business. Without private-sector engagement, political support for reform will weaken. Business has a responsibility to bring evidence, realism and real-world impact into policy debates, and to support reform efforts that preserve openness while addressing legitimate concerns. Dutch businesses clearly demonstrated that they are engaged and support the need to keep the multilateral trading system.

A clear takeaway

The takeaway from the round table was clear: keeping the multilateral trading system alive matters, and reforming it together is the only viable path forward. Inaction risks erosion by default — a scenario that would be particularly damaging for open economies and internationally operating businesses.

Read ICC call to action:

Revitalising the multilateral trading system: Call for action | ICC WBO Netherlands