ICC advances trade revitalisation dialogue to boost resilience in the Americas

Senior policymakers and business representatives convened in Mexico City this week for a high-level roundtable to advance ICC’s initiative to revitalise the multilateral trading system. Organised in partnership with national chapter ICC Mexico, the roundtable focused on the Americas and marked the third regional dialogue to present the ICC Compact for Trade, Growth and Jobs following engagements in Singapore and Dubai.

Discussions brought a distinct regional perspective to a shared challenge: how to upgrade the infrastructure that underpins global trade and ensure it delivers for businesses in the realities of the 21st century.

ICC Secretary General John W.H. Denton AO said:

“We are not talking about the trading system to preserve the legacy of the past, but instead to optimise for the future, ensuring that we are building an inclusive approach that works for businesses of all kind. Alongside our call for WTO reform, this compact allows us to ensure the infrastructure of global trade is fit for purpose in the 21st century.”

Strengthening trade resilience

The roundtable highlighted how the conversation on the future of trade carries particular urgency In the Americas.

While nearly 60% of North American trade is intra-regional, only around 15% of exports from Latin America and the Caribbean are destined within the region. At the same time, small- and medium-sized enterprises (SMEs) account for more than 90% of firms across the hemisphere, yet only an estimated 10–15% participate directly in cross-border trade. As such, there is huge value to be unlocked for communities across the hemisphere if the key business challenges identified in the ICC Compact can be addressed effectively.

From dialogue to practical solutions

With participants from across North, Central and South America, and the Caribbean, discussions focused on accelerating SME participation in trade, sustainable industrial transformation, and opportunities presented by the digital revolution. Attention was placed firmly on tangible initiatives that business communities, working with governments and ICC, can deploy in their local environments and in coordination with partners across the region.

A fit-for-purpose trading system

As momentum grows for the World Trade Organization (WTO)’s 14th Ministerial Conference in Cameroon in March, for which ICC has issued the Global Business Statement and Call for Action to outline a business-friendly WTO reform process, ICC urges stakeholders to see this not as an opportunity to preserve the past but to optimise for the future.

Alongside a focused reform agenda at the WTO, the ICC Compact aims to provide a pathway forward to ensure the global infrastructure for trade is fit for purpose in the modern day.

ICC will continue to work with governments and business communities across the Americas to leverage the insights from this roundtable to stimulate the economic activity needed for greater trade, growth and jobs.