The global trading system is undergoing a period of transition. Shifting economic circumstances, major advances in technology and the emergence of new players on the global scene, all underscore that we are on the cusp of big changes. Persistent imbalances, driven largely by macro-economic factors continue to be a cause of concern in some major economies. Even in such a climate of uncertainty, one thing is certain that there is a great need to strengthen the global trading system by working it more equitable and relevant for those who trade in the twenty-first century with Uniform Customs and Practice
