The changing global dynamics require prompt effective and meaningful reforms within the World Trade Organization (WTO), to ensure its relevance and capacity to address modern trade complexities. Discuss. (Answer in 150 words) 10 marks

Recently, the WTO ministerial Conference was held, with many developing nations feeling the brunt of an obsolete body in a changing world. Core Challenges WTO Facing (1) Preferential access to developed nations and developing nations due to economic leverage – this is contrary to add multilateralism world order. (2) Increasing protectionism post-COVID raising the question of LDC's role as a free-trade bell-wether. (3) Monetary policy tightening worldwide further during trade and exchange rates – once again moderated by WTO. (4) Belabge and latency in dispute redressal – future dispute redressal bodies.

Need for Reforms in WTO: (1) Need for general and balanced representation with a focus on developing nations, eg: extension of Peace Clause for both amber box subsidies in the Agreement on Agriculture as well as fisheries subsidy. (2) Need to modernize dispute redressal body more effectively and judiciously. (3) Need for expansion of WTO principles to bilateral and multilateral trade treaties to scourge ensure over-trade principles. (4) Need to give WTO more enforcement powers. WTO must be reformed from within before the changing world order renders it obsolete.