UAE, Singapore and New Zealand launch coalition to promote rules-based trade

The UAE, Singapore and New Zealand are leading the launch of a new trade coalition among World Trade Organization members as a counterweight to the Trump administration’s so-called “napkin deals” that have unsettled global trade.

Expected to draw in about 10 countries, including Morocco, Rwanda, Malaysia, and Norway, the Future of Investment and Trade Partnership initiative aims to promote rules-based trade, strengthen confidence in digital commerce, and ensure equal treatment for paper and electronic trade documents.

“The idea, at the start, is to keep it as a loose coalition to bolster trade openness and international trade rules, but it may evolve into something bigger over time. It is a work in progress,” one of the officials involved in discussions told The Financial Times.

The scheme will be formally announced next month, with a virtual launch in November and an in-person gathering planned for July 2026.