Asia’s quiet strength in a changing trade landscape, ET Government

World Trade Centers Association (WTCA) works with organizations like the WTO and the Washington International Trade Association (WITA) to bring business voices into these dialogues, whether it’s through investment forums or sector-focused policy discussions.We’re at an uncertain juncture for international trade. Tariff hikes, geopolitical friction, and economic headwinds have led many to question the future of the multilateral trading system. But as highlighted Loat the recent 2025 WTCA Global Business Forum (GBF), hosted by World Trade Center Marseille Provence April 6-9 in Marseille, France, now is not the time to pull back. It’s the time to hold steady.Having spent over two decades working across the U.S., China, India and the broader Asia Pacific, I’ve seen how trade serves as a powerful tool for bridging differences and building resilience.

The World Trade Organization (WTO), for all its imperfections, remains one of the few global platforms where 166 economies, large and small, come to the table as equals. It still governs nearly three-quarters of global trade under Most Favoured Nation terms. That alone is a remarkable achievement in today’s fractured world.

Asia Pacific, A Stabilizing Force
What stands out in our region is its quiet resilience. Yes, Asia Pacific is a manufacturing powerhouse, but that’s just one part of the story. Digital innovation is booming. Services are growing faster than ever. And countries like India are actively shaping new trade partnerships, whether with the EU, within the Indo-Pacific, or through new supply chain frameworks.

There’s been much talk about “re-globalization,” a term WTO Deputy Director General Angela Ellard used during the GBF panel “Global Outlook: Navigating Trade and Investment Trends in 2025” to describe how economies are rethinking supply chains post-pandemic. This shift creates space for emerging markets to participate more meaningfully. For Indian businesses, especially SMEs, this is a real opportunity to move beyond back-end services and lead in intellectual property (IP), digital trade, and product innovation.

Trust, Not Tariffs
The panel discussions made one thing abundantly clear: trust is the foundation of trade. Without it, even the most well-intentioned policies fall flat. In recent years, global businesses have faced more uncertainty than ever, and this lack of predictability directly affects investment decisions.

In this context, India is increasingly seen as a reliable partner. Its growing diplomatic presence, commitment to multilateralism, and embracing of universal values such as diversification and inclusiveness position it uniquely to bridge the Global North and South. Through our World Trade Center (WTC) locations in India, we’ve seen a steady rise in businesses using these hubs to connect, export, and expand globally.

Businesses Must Have a Voice
The nature of trade is evolving fast. It’s not just about goods anymore. Data flows, sustainability, digital infrastructure, and services now dominate trade conversations. That’s why businesses need to be part of shaping the rules, not just reacting to them.

World Trade Centers Association (WTCA) works with organizations like the WTO and the Washington International Trade Association (WITA) to bring business voices into these dialogues, whether it’s through investment forums or sector-focused policy discussions. Across Asia Pacific, we’ve seen that when governments and businesses collaborate, progress becomes tangible.

Rules, Resilience, and Relevance
During the Global Outlook panel session at the GBF, WTO’s Angela Ellard reminded us that trade today is far more than a matter of tariffs. From digital services to IP frameworks, from dispute resolution to trade facilitation, the multilateral system offers vital tools that many businesses may take for granted. WTO rules, she noted, has helped reduce extreme poverty levels globally and continues to provide an essential platform for negotiation, transparency, and resilience — even in times of geopolitical friction.

The panelists also highlighted a growing risk: the erosion of trust. Inconsistent policy signals, retaliatory tariffs, and fractured alliances have made investors wary. Yet it’s precisely this uncertainty that underscores the need for rules-based systems and business-driven dialogue. When supply chains are under pressure, it’s calm coordination — not confrontation — that fosters stability.

John E. Drew, WTCA Chair, Board of Directors, echoed this sentiment during his opening remarks during the GBF with a statement on behalf of WTCA: “WTCA is committed to promoting free and fair trade, open markets, and healthy competition. We believe these principles foster an environment that attracts investment, drives prosperity, and fuels economic growth. Through our global network of independent World Trade Center operations – built on trust and collaboration – we actively support these principles by facilitating international business connections and trade opportunities worldwide.”

For Asian economies, this is a pivotal moment. The region’s ability to balance agility with long-term vision, especially in trade and investment, can offer a roadmap for others. The message from Marseille was clear: cooperation may be slower, but it’s far more sustainable than going it alone.

A Moment to Lead, Not Retreat
The phrase “Keep calm and trade on” may have earned a few chuckles during Mr. Drew’s opening remarks, but the message behind it is serious. Global trade doesn’t benefit from panic or protectionism. It thrives on clarity, cooperation, and long-term thinking.

As India’s global role expands, it also inherits a responsibility to be a steady voice in defence of a fair and open trading system. Companies and investors around the world are watching, and they value countries that offer more than growth. They value dependability.

At WTCA, we’ve always believed that trade is ultimately about people. Policies may shift, governments may change, but businesses, cities, and entrepreneurs remain committed to building lasting connections.

Now more than ever, we need to double down on those connections. Because when we choose dialogue over disruption, and inclusion over isolation, we don’t just preserve trade, we strengthen the foundations of global progress and prosperity.

• Published On May 15, 2025 at 02:10 PM IST

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