MARSEILLE – World Trade Center Georgetown (WTCG), Guyana says it supports a call by the World Trade Organization (WTO) for the private sector globally to advocate for the maintenance of a rule-based system for governing global trade and to work with WTO member governments on this advocacy.
The announcement of support for this initiative was made Wednesday (April 9) by WTCG Executive Director Wesley Kirton in response to the call made Tuesday by WTO Deputy Director General Angela Ellard at the 55th annual General Assembly and Global Business Forum of the World Trade Centers Association (WTCA) being held in Marseille, France.
Kirton who is representing the WTCG at the meeting says the WTCG will seek to engage both the private sector and the Government of Guyana on this issue and will also seek to expand this engagement with the Caribbean Community (CARICOM) whose Secretariat is headquartered in Guyana. He said WTCG will organize a forum in Georgetown in June.
Speaking at the meeting Tuesday, Ms. Ellard said the WTO remains a pillar of security and predictability amid global uncertainty and a global trading system that is currently under severe strain. And she called on private sectors around the world to advocate for the maintenance of a rules -based system for governing global trade.
Global Outlook
Speaking on the “Global Outlook: Navigating Trade & Investment Trends in 2025” she emphasized the enduring value of the multilateral trading system. She also urged business and governments to use the WTO platform to navigate today’s turbulent economic landscape, pointing out that the WTO’s preliminary analysis suggests that recent tariff measures by the United States and others could lead to a contraction of global merchandise trade volumes of around 1% this year.
Ms. Ellard underscored the WTO’s importance in providing security and predictability for businesses worldwide, noting that “the WTO has helped reduce the share of people living in extreme poverty from 40% in 1995 to under 11% in 2022.
Ms. Ellard highlighted that the WTO’s work extends well beyond tariffs.” From streamlining customs procedures and promoting digital trade to enforcing intellectual property rights and ensuring food safety rules are based on science, the WTO provides a framework that underpins cross-border commerce for its 166 members,” the deputy director general said. She also stressed that the WTO remains relevant, noting that despite new trade measures, 74% of global trade still flows under WTO Most-Favoured-Nation (MFN) terms.
This she said demonstrates the multilateral system continues to function effectively and is worth preserving.
The deputy director general called for a level-headed approach, underscoring the need for calm and cooperation in today’s turbulent environment. She urged members to use WTO tools, including its committees and the dispute settlement system, for addressing trade concerns.
“There is an opportunity for dialogue and cooperation to work through issues, including at the WTO,” Ellard said, calling on businesses to advocate for the rules-based system.
