Future Of International Trade Agreements


Other values, such as non-discrimination, transparency, reciprocity, international cooperation and the rule of law, are evident. The development of payment systems has supported the intensification of international trade. Technological improvements, such as the introduction of real-time gross settlement systems by central banks, have eliminated much of the risk associated with international payments, while deeper and more liquid foreign exchange markets have facilitated the use of multiple currencies. At the extraordinary meeting of the Virtual General Council on May 15, 2020, members shared the issues they faced due to COVID-19 and reported on the measures they have taken. These reports, together with proposals from external trade experts, indicate possible ways in which the WTO can be reviewed by WTO members.

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