WTO Reforms Needed to Empower Developing Nations in Global Trade
The World Trade Organization (WTO) needs to change to be more effective in global trade negotiations. The current structure is outdated and not suited for the diverse needs of all member countries. Reforms are necessary to make the WTO more flexible and relevant, including clearer rules on trade agreements and a better understanding of each country's policy space. Bilateral and regional trade agreements are becoming more popular, but the WTO can still play a vital role in promoting fair trade. Aid for trade can help developing countries participate more in WTO agreements. Overall, members of the WTO need to work together to find common ground and create mutually beneficial trade agreements.