He is also Vice President of The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI). In the statement Fahim said developing economies needed sustainable, equitable rules to achieve development goals and grow new industries with ease of market access.

“Developing economies find it difficult to expand their own emerging industries, as multinational companies have competitive advantage in the current global business environment. So, it is imperative promising economies are able to establish and maintain interconnectivity and collaboration among potential trade partners.

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“Therefore, the need for a study that explores all these new challenges, gaps, and inconsistencies and finds an inclusive solution for world trade to become an effective system again that leaves no one behind, is paramount."

Recently, CACCI has taken a study project titled ‘Resurrecting the World Trading System’ to ease the world trading system.

The foremost network of business groups from the Asia Pacific has commissioned renowned macroeconomist Dr Andrew Stoeckel to author the study.

CACCI, a network of national chambers from 27 economies across Asia and the Western Pacific, will deliver an evidence-based argument and plan for reforming the World Trade Organisation (WTO) as well as the relationships with the major global intergovernmental institutions, following the completion of the study mid this year.

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The newly commissioned research is a flagship project for CACCI and will provide insight for the entire global trading community. The results will be released in mid-2021 in time for consideration by the next WTO Ministerial Council.

Australian Chamber of Commerce and Industry (ACCI) is providing the technical support in the project.

New Zealand Herald, World Trade Online, Bloomberg, AP, Financial Times, Wall Street Journal, Forbes, The Economist, The Guardian (UK version), BBC, NPR, CNBC, Foreign Affairs, The Diplomat (Entire Asia-Pacific), China Daily, Global Times (China), China Post (Taiwan), South China Morning Post (HK), Times of India, Jakarta Post, Bangkok Post, Japan Times, The Australian, The AFR, The SMG/AGE, ABC, AAP and AFP released his statement, according to a press release on Sunday.