Friends of Multilateralism Group (FMG)

Despite the challenges faced by WTO dispute settlement mechanism since 2019 when the Appellate Body became non-functional, this mechanism is still alive, particularly with the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) providing members with a new avenue for dispute resolution.Against this backdrop, FMG is launching a new series of online brainstorming on WTO Dispute Settlement rulings, entitled “WTO Disputes Decoding Series” (WDDS) to provide a user-friendly analysis of the final rulings of MPIA, and of the panel when related parties accept.FMG is glad to organize the first session of this series on recent MPIA ruling on DS611-Enforcement of Intellectual Property Rights.

The global economic order is undergoing another profound transformation. Amid a fragile recovery and uncertain growth prospects, two significant developments — the U.S.-China Joint Trade Statement and the U.S.-UK Economic Prosperity Deal — are introducing new possibilities into the global economic and trade landscape.FMG is glad to host a brainstorming session to discuss on these new developments, their implications for the global trade and the WTO reform, as well as the way forward.

The world finds itself at a critical inflection point. Just as the global economy appeared to be stabilizing after years of turbulence, a new wave of policy shifts and heightened uncertainties has sharply altered the trajectory of growth. With forecasts revised downward, escalating trade tensions, and financial markets adjusting to unprecedented volatility, the risks to stability are mounting.As the world grapples with these complex dynamics, proactive and coordinated action will be essential to safeguarding economic stability. FMG are glad to bring together leading experts to examine these challenges and chart a path forward.

Trump 2.0 has substanbially transformed the US trade policy and posed serious challenges to international trade. Against this context, the multilateral trading system and the reform of the WTO are also facing strong headwinds.In this context, FMG is glad to organize a webinar entitled "Trump Trade Policy and WTO Reform" to discuss these policy changes and their implications for the WTO reform.

With the WTO confronted with turbulence and uncertainty, the vision of the new European Commission, the evolution of the EU's trade policy in the WTO is pivotal. Many other members depend on EU's leadership role in help rebuilding the trust of the multilateral trading system and preserving the certainty in global trade in the years to come.In light of the dynamics around the global economic landscape, FMG is glad to host this webinar to explore the future trajectory of EU trade policy and its role in the WTO.

In the face of evolving global economic landscapes, shifting trade dynamics, and intensifying geopolitical tensions, the WTO finds itself in an increasingly difficult situation to maintain its relevance and effectiveness and to push forward its own reform. At this critical juncture, insights, analysis, and recommendations on the way forward are extremely needed.Therefore, FMG is launching the initiative “High-level Dialogue on the Future of WTO Reform”, to invite top WTO experts to benefit from their wisdom and visions on the challenges, potential solutions, and needed actions by all WTO stakeholders to help sustain multilateralism, nurse essential reforms of the system, and reform the WTO of the future.FMG is pleased to host the second high-level dialogue with Tim Groser, former Ambassador of New Zealand to the WTO.

As a central issue of the WTO reform, its decision-making mechanism has been discussed and extensively. Based on some recent proposals by WTO members on this issue, FMG is most glad to host a candid and inclusive dialogue to exchange views and explore potential ways forward for an effective WTO’s decision-making process that can respond to the 21st century challenges.To our knowledge, the related proposals include the followings:Preserving the Current Practice of Consensus-Based Decision-Making in the WTO(Communication From Samoa on behalf of the African, Caribbean And Pacific Group ).Responsible Consensus (Communication From Brunei Darussalam, Costa Rica; The Gambia; Korea, Republic Of; Norway; Peru; Singapore; Switzerland; Separate Customs, Territory Of Taiwan, Penghu, Kinmen And Matsu).Revisiting the Marrakesh Agreement to Improve WTO Decision-Making: A Pareto Improvement Perspective (RD/GC/31).FMG is most glad to organize a webinar to discuss the decision-making of the WTO.

Given the continuous challenges confronted by the multilateral trading system, including geopolitical tensions, and renewed dynamism among members on WTO reform across the board of its functions, FMG is committed to further its efforts to promote mutual understanding through meaningful dialogue among members, especially the major ones.For that purpose, FMG has launched the brainstorming initiative titled “Trade Policy Preview” (TP-P) to host a candid and forward-looking dialogue on trade policy trends of key players of the WTO and their implications on the WTO reform discussions. Previous TP-P sessions organized by FMG, shortly before the normal Trade Policy Review (TPR) of some WTO Members, could be found:https://fmg-geneva.org/activities-trade-policy-preview-t-pp/FMG is most glad to organize a TP-P session on Australia in February 2025.

In the face of evolving global economic landscapes, shifting trade dynamics, and intensifying geopolitical tensions, the WTO finds itself in an increasingly difficult situation to maintain its relevance and effectiveness and to push forward its own reform. At this critical juncture, insights, analysis, and recommendations on the way forward are extremely needed.Therefore, FMG is launching the initiative “High-level Dialogue on the Future of WTO Reform”, to invite top WTO experts to benefit from their wisdom and visions on the challenges, potential solutions, and needed actions by all WTO stakeholders to help sustain multilateralism, nurse essential reforms of the system, and reform the WTO of the future.FMG is pleased to start this series with a dialogue with Pascal Lamy, former Director-General of the WTO from 2005-2013.

The Republican candidate, Donald Trump, has secured the electoral votes needed to becomethe 47th President of the United States (US). Trump will officially take office on 20 January2025.The implications of the US presidential election for global trade are now at the forefront ofdiscussions around the world. The US plays a pivotal role in shaping international tradedynamics and the outcome of this election is set to have a significant impact on trade policies,global partnerships, the overall economic landscape and WTO reform.FMG is most glad to organize a session to discuss the potential impact of the 2024 Electionon global trade and WTO reform.

In October 2024, the report “Working together for better climate action” was published, which outlined pathways for coordinated approaches on climate action, carbon pricing and the cross-border effects of climate change mitigation policies, with a view to achieving global climate goals. FMG is pleased to host this session based on this report to further the international discussions on the key role that trade can play in the transition to a global low-carbon economy and a greener, more sustainable society.

Given the continuous challenges confronted by the multilateral trading system, including geopolitical tensions, and renewed dynamism among members on WTO reform across the board of its functions, FMG is committed to further its efforts to promote mutual understanding through meaningful dialogue among members, especially the major ones.For that purpose, FMG has launched the brainstorming initiative titled “Trade Policy Preview” (TP-P) to host a candid and forward-looking dialogue on trade policy trends of key players of the WTO and their implications on the WTO reform discussions. Previous TP-P sessions organized by FMG, shortly before the normal Trade Policy Review (TPR) of some WTO Members, could be found:https://fmg-geneva.org/activities-trade-policy-preview-t-pp/FMG is most glad to organize a TP-P session on Nigeria in November 2024.

Debates over exchange rates and financial policies often spill over into the trade policy sphere. At this session of FMG, we invited Mark Sobel, US Chairman at OMFIF; Petros C. Mavroidis, Professor of Law at Columbia Law School, and Hector Torres, former Executive Director at the IMF. Brad McDonald, former Deputy of Trade Policy at the external sector Division of IMF moderated this session. The panel and participants discussed on the current exchange rate juncture and the factors behind it, and how governments have tried to deal with the trade implications of exchange rate movements, "under valuation," and "manipulation."For more information about Friends of Multilateralism Group, please visit our website,https://fmg-geneva.org/ and our YouTube Channel@friendsofmultilateralismgr4571.