A coalition of small and medium-sized economies, led by Singapore, the UAE, and New Zealand, is preparing to launch a new trade initiative aimed at strengthening rules-based global trade and expanding cooperation in the digital economy.
The new grouping, called the Future of Investment and Trade Partnership (FIT-P), is expected to bring together around ten nations from Asia, Latin America, Africa, and Europe. Among those being considered as potential members are Malaysia, Morocco, Rwanda, Uruguay, Costa Rica, Panama, Paraguay, and Norway. The final membership list has not yet been confirmed.
A Flexible, Rules-Based Coalition
FIT-P is being positioned as a nimble coalition that prioritises openness, predictability, and efficiency in international trade. Unlike large, traditional trade blocs, it will initially operate as a loose framework designed to encourage confidence-building measures in areas such as:
- Digital trade and recognition of electronic documentation
- Streamlined cross-border rules for e-signatures and electronic contracts
- Trade facilitation reforms to reduce friction for exporters and importers
Officials behind the initiative believe that FIT-P’s smaller membership will enable it to respond quickly to emerging global trade challenges, while complementing existing regional and multilateral agreements.
Launch Timeline
The grouping is expected to be formally unveiled at a virtual meeting in November 2025, with an in-person summit scheduled for July 2026. The phased launch will enable members to align on initial priorities before progressing to deeper cooperation and collaboration.
Global Context
The creation of FIT-P comes at a time of growing uncertainty in the global trading system, as unilateral and bilateral trade measures by major economies continue to test the principles of openness and non-discrimination. By focusing on digital trade standards and transparency, the initiative aims to safeguard the access of smaller nations to global markets and strengthen their collective voice in shaping international trade rules.
The framework also draws inspiration from agreements like the Digital Economy Partnership Agreement (DEPA), which established common digital trade norms among Chile, Singapore, and New Zealand, and has since expanded to include South Korea.
Strategic Significance for the UAE
For the UAE, being a founding member of FIT-P reinforces its role as a global trade hub and aligns with national strategies to advance digital economy growth, logistics innovation, and economic diversification. The initiative also provides opportunities to deepen economic ties with emerging partners across multiple regions.
As discussions progress, member states will seek to define tangible benefits and governance mechanisms, ensuring that the new partnership translates into practical advantages rather than simply adding another layer to the global trade architecture.
