The global trade system is facing unprecedented challenges as the United States implements sweeping tariff hikes, disrupting international commerce. In response, the International Chamber of Commerce (ICC) has called for an urgent overhaul of the multilateral trade framework, emphasizing the need for resilience in the face of economic nationalism. Against this backdrop, Ethiopia’s accession to the World Trade Organization (WTO) is being hailed as a critical step toward integrating into global trade and unlocking economic opportunities.
The recent tariff hikes announced by the United States have sent shockwaves through the international trade system. With the U.S. accounting for 13% of global trade, these measures have introduced new barriers that threaten to destabilize economies worldwide. ICC Secretary-General John Denton expressed concern over these developments, stating, “The rest of the world—87% of economies—wants to maintain this system. Our job is to revive it.”
Denton emphasized that the multilateral trade system must evolve to remain relevant in the 21st century. He warned that if institutions like the WTO continue to erode, their ability to deliver benefits to member states will be compromised.
Ethiopia’s accession to the WTO comes at a pivotal moment for the country’s economy. The ICC has actively encouraged Ethiopia to accelerate its membership process, highlighting the “tremendous benefits” it could bring. Denton noted that Ethiopia’s integration into the global trade system would strengthen its ability to attract investment and foster economic growth.
However, Denton cautioned that Ethiopia’s membership must coincide with efforts to revitalize the WTO itself. “If the institution is eroding, there is little point in joining,” he remarked. To ensure success, ICC is collaborating with Ethiopia and other African nations to advocate for a stronger and more inclusive multilateral trading system.
During discussions with the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA), ICC outlined plans to deepen partnerships with Ethiopian businesses and institutions. AACCSA President Zehara Mohamed emphasized her commitment to transforming this relationship into tangible business and investment activities.
ICC also highlighted its focus on dispute resolution services through its arbitration tribunal and low-cost dispute resolution hub. These initiatives aim to facilitate smoother business operations for companies of all sizes, including small and micro enterprises in Ethiopia.
The ICC’s broader agenda includes reforming global trade frameworks to address challenges posed by protectionism and economic nationalism. Through initiatives like “Making Global Justice Accessible to All,” ICC aims to deliver practical solutions for businesses navigating complex international markets.
As part of its efforts in Ethiopia, ICC is establishing an organizing committee to strengthen ties with local chambers of commerce. Special emphasis will be placed on supporting Ethiopian businesses in leveraging international trade opportunities while navigating disputes effectively.
