Global trade is changing rapidly.

The WTO World Trade Report 2026 highlights a fundamental question: how can the multilateral trading system remain effective in an economy increasingly shaped by digitalization, artificial intelligence, geopolitical tensions and changing patterns of global economic power?

According to the report, strengthening the multilateral trading system could increase global GDP by around 3% — equivalent to approximately $3 trillion — by 2050.

At the same time, failure to modernize the system could reduce global output by up to 10%.

The report also notes that around 72% of global merchandise trade continues to take place under WTO most-favoured-nation terms, highlighting the continuing importance of multilateral trade rules.

For developing and emerging economies, the future of global trade is therefore not only about increasing exports. It is also about ensuring that trade rules, digital transformation and global value chains create meaningful opportunities for broader participation.

For OIC economies, an important question is:
How can greater economic and trade cooperation help countries adapt to the changing global trading system and capture new opportunities in digital, services and technology-intensive trade?

ICRIC will continue to follow major developments shaping the global trade environment and their implications for OIC economies.

Source: World Trade Organization, World Trade Report 2026

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