New Delhi, March 18 -- The United Nations Conference on Trade and Development (UNCTAD) on Wednesday said that a robust and reformed World Trade Organization (WTO) is critical for developing countries, cautioning that rising uncertainty in global trade rules could undermine decades of economic progress.
In its latest Global Trade Update, UNCTAD said developing economies have the "greatest developmental stake" in a well-functioning multilateral trading system as it ensures stable and predictable market access essential for growth.
"Over the past 20-plus years, trade has been a central driver of economic expansion for many developing countries," the report noted, adding that integration into global markets has enabled investment flows, techn...