Global South Nations Reaffirm Support for Multilateral Trading System
What happened
Global South nations reaffirmed their commitment to the multilateral trading system on November 1, 2026. The United Nations Conference on Trade and Development noted that South-South merchandise exports grew from approximately $500 billion in 1995 to $6.8 trillion in 2025. More than half of developing countries' exports currently go to other developing economies.
From chinadaily.com.cn
Why it matters
The affirmation calls for strengthening coordination and upholding the multilateral trading system with the World Trade Organization at its core, particularly in the face of unilateralism and protectionism. The reports stress that predictable and nondiscriminatory rules are essential for small and medium-sized economies to gain fair access to international markets.
The United Nations and the World Trade Organization are cited as prime examples of how international bodies function to promote multilateralism and conduct direct diplomacy.
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Who's involved
- World Trade OrganizationIntergovernmental organization intended to supervise and liberalize international trade
- Ngozi Okonjo-IwealaDirector-General of the World Trade Organization
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Latin AmericaSpeculative
Latin America might benefit from increased trade predictability for its businesses.
- United Nations Development ProgrammeSpeculative
The United Nations Development Programme might see its mandate and funding potential boosted by the emphasis on development resilience.
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The entities involved
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World Trade Organization
intergovernmental organization that intends to supervise and liberalize international trade