ICC calls for renewed multilateralism and enhanced global cooperation at World Governments Summit

Speaking at the World Governments Summit (WGS) in Dubai, Mr Denton called on policymakers to work hand in hand with the private sector to deliver effective solutions.

 

“Economic diplomacy and multilateral cooperation are key to ensure that trade and investment continue to lead to peace, prosperity and opportunity for all. ICC, as a key practitioner of economic diplomacy, will continue to play its part, and drive inclusive, multilateral cooperation with legitimacy, integrity and pragmatism,” he said.

During a panel session looking at the potential of economic diplomacy to reshape global trade, Mr Denton underscored ICC’s role in crowding private sector views and know-how into multilateral governance and processes. Pointing to challenges such as acute trade fragmentation and the inability of multilateral frameworks to drive coordinated action, Mr Denton called for stronger partnerships and international cooperation, to reshape an effective multilateral system.

He said:

“Those of us who believe in a rules-based order, rather than a power-based one, must therefore take on the responsibility of reshaping it.”

Mr Denton emphasised ICC’s role as the inclusive, representative body of over 45 million businesses globally, with the agility to enable tangible solutions. This includes through initiatives such as the ICC Digital Standards Initiative, access to green trade finance, and enhanced access to justice for smaller businesses.

The World Governments Summit serves as a platform for discussions on global trade, governance and sustainability. In November 2024, ICC and the World Governments Summit announced a strategic knowledge partnership to drive research and innovation on key global issues. The collaboration aims to provide actionable insights on economic development to support sustainable development at a global and regional level.