ICC highlights Europe’s role moving global trade from fragmentation to delivery

Senior policymakers and business leaders met in Brussels this week to advance practical pathways for strengthening the global trading system. Building on earlier regional engagements in Singapore, Dubai, and Mexico City, the Brussels dialogue focused on how Europe can help move the global trade agenda from discussion to delivery at a moment of heightened geopolitical and economic uncertainty.

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Hosted by ICC and Eurochambres the roundtable convened Türkiye's Minister of Trade, Ömer Bolat, senior representatives from the European Commission and the European Parliament, officials from Permanent Representations to the European Union, national chambers of commerce, think tanks and European and international business leaders closely connected to the EU market.

Global trade in geoeconomic times

Setting the scene, ICC Secretary General John W.H. Denton AO highlighted the profound shift underway in global trade. Trade policy is increasingly shaped by security concerns, the green transition and the data economy, creating a more contested and complex operating environment for businesses of all sizes.

"Business needs what only a functioning multilateral system can provide: transparent, predictable, and modern regulatory frameworks for global trade. Without this, uncertainty deepens and the real economy pays the price," he said.

The keynote intervention from Mr Bolat highlighted the urgency of revitalising the multilateral trading system amid growing fragmentation. Emphasis was placed on strengthening World Trade Organization (WTO) decision-making while preserving consensus, restoring dispute settlement and ensuring a level playing field by addressing trade-distorting practices. Continued engagement following the WTO's 14th Ministerial Conference (MC14) and closer regional economic cooperation were seen as essential to reinforcing a credible, rules-based system.

From a business perspective, participants pointed to rising policy interventionism and accumulating compliance requirements, from export controls and carbon measures to sustainability and sourcing obligations, which are increasing costs and operational risk. In this context, a more coherent system was seen as essential to restoring confidence and stability in global trade.

Future of multilateral trade following MC14

Discussions on Europe's perspectives following MC14 brought into focus the growing gap between ambition and delivery in the multilateral trading system. Participants reflected on the lack of concrete outcomes at the ministerial and the mounting pressure on the WTO to respond more effectively to economic fragmentation and shifting geopolitical realities.

The conversation quickly turned to what this means in practice for European businesses. With companies continuing to rely on predictable and transparent trade rules, the absence of progress on WTO reform was seen as adding further uncertainty at a time when compliance burdens and operational complexity are already rising.

Looking ahead, the discussion emphasised the need to move from diagnosis to action. More pragmatic pathways to progress, including openness to WTO-linked plurilateral initiatives and stronger public private cooperation, were highlighted as key steps to help unlock progress in critical issues from e-commerce to transparency and supply chain resilience.

Rules of origin as a strategic imperative

The discussion brought these ideas to a practical reality by underscoring how growing complexity around rules of origin is reshaping how businesses access markets and organise supply chains. Divergent rules, inconsistent interpretation and expanding documentation requirements are increasing compliance risk and cost, particularly for SMEs, and are limiting the effective use of trade agreements.

Anna Jerzewska, Founder and Managing Director of Trade and Borders, who led this part of the agenda, said: "Origin is no longer just a customs issue. As the role of customs expands and new policies are being developed in areas such as sustainability or competitiveness, origin is increasingly being used for other purposes. On top of that new trends and types of provisions keep emerging making it necessary for companies to keep up.

Participants highlighted that tackling these challenges is now critical to maintaining predictable and efficient trade flows. Greater standardisation, digitalisation and practical support from ICC and the ICC World Chambers Federation were seen as essential to ensure rules of origin continue to facilitate trade, rather than become a barrier to participation in global markets.

The roundtable concluded with a clear message: while fragmentation, interventionism and geopolitical pressures are reshaping global trade, they also underline the need for decisive, business-grounded action.

Summarising this sentiment during his intervention, Vladimir Dlouhy, President of Eurochambres, said: "In a global context of heightened geopolitical competition, friction, and uncertainty the cost of a non-competitive Europe is rising by the day, and that has both an internal dimension that needs to be tackled, as well as external dimension, and we must ensure we advance swiftly on both. Firstly, we need to be ambitious and proactive in pursuing global economic trade cooperation and working on our strategic resilience with our global partners. Secondly, we need to get our own house and our own market in order."

In this context, ICC's Compact for Trade, Growth and Jobs was seen as a practical platform to translate dialogue into delivery and help position Europe as a constructive and competitive force in shaping the future of global trade.

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