The Need for New Approaches to Trade Cooperation Amidst Emerging Global Economic Shifts

Due to technical progress and the growth of economic ties between countries, the benefits from liberalized international trade and freedom of movement of foreign direct investments are increasing not only for industrialized countries but also for emerging markets experiencing accelerated development. This paper emphasizes the need for new trade cooperation approaches in response to the forces reshaping international business. It suggests the multilateral trading system must adjust to developments in trade and the trading environment. Key trade developments include the rise of global supply chains and a shift in trade power from the West to Asia. The research presents new models of foreign trade policy and interests, highlighting the importance of factor specificity in trade policy. The study analyzes models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionist pressures across political systems, and the rise of bilateral tendencies in north-south relations. The paper stresses that macroeconomic stability and increased investment, rather than free trade alone, are vital for economic growth.