By Allan Chesang (African Times Guest Writer)
In global affairs, multilateralism means an
agreement of many countries with the same
goal. Also, multilateralism is a diplomatic word
that means cooperation between a number of
Multilateral trade agreements are business
treaties among more than two states .As
multilateralism is on a global
scope, multilateral policies are diplomatically
demanding but have great benefit once they are
For one, multilateral agreements make all
parties treat one another in the same way. It
increases business for all member countries.
Their businesses enjoy lower tariffs which
make their exports discounted. It regulates
market protocols for all the trade parties.
Companies save on legal costs since the same
trade rules apply in all the member countries.
Furthermore, in multilateral agreements states
can discuss trade treaties with several
countries at the same time, hence getting one
agreement, which covers several nations,
approved in one go.
Another benefit relates to emerging markets.
Multilateral trade agreements help to
strengthen emerging markets which in turn
helps the developed economy with time. This is
because as those emerging markets become
developed, their middle class population
increase thus creating new wealthy consumers
In a show of support for inclusive
multilateralism and the United Nations (UN), 27
Chief Executive Officers (CEOs) from Kenya
signed an endorsement statement from
Business Leaders, for Renewed Global
The UN general assembly held a high-level
meeting to celebrate its 75th anniversary. At the
opening of the Private Sector Forum, the CEO
and Executive Director of the UN Global
Compact, Sanda Ojiambo, presented the
endorsement statement to UN Secretary-
General, António Guterres.
“The Statement is a resounding endorsement of
inclusive multilateralism. In no uncertain terms,
it says that cooperation must cross borders,
sectors and generations for us to adapt to
In the course of just one month after we issued
the Statement, it has been signed by 1,294
CEOs from large, medium and small enterprises
in virtually every industry and region. We deeply
appreciate their commitment to global
cooperation at a pivotal time for the UN and the
world at large.” said Sanda Ojiambo.
The UN turned 75 years old at a time when the
world is experiencing unprecedented levels of
disruption and transformation. These strange
times call for a need for international
cooperation which must be organised across
borders, sectors and generations, as the world
adapts to these changing circumstances.
“We, the business peoples, recognize that
peace, justice and strong institutions are
beneficial to the long-term viability of our
organizations and are foundational for
upholding the Ten Principles of the UN Global
Compact and achieving the Sustainable
Development Goals (SDGs).
Now is our opportunity to learn from our
collective experiences to realign behind the
mission of the UN and steer our world onto a
more equitable, inclusive and sustainable path.
(Allan Chesang is a commentator on Socio-
Political issues and is also the Founder of Allan
Chess ng Foundation)