An open and fexible global trading environment plays a constructive role in both climate change mitigation and adaptation. A new international climate change regime and global trade rules should ideally be mutually reinforceable. Trade of food and agricultural products will be crucial in order to offset climate change-induced reduction of production in certain regions and to compensate for periodic shortages due to more frequent droughts and floods. An open trade system can also help address volatility of global agricultural prices, which is likely to be exacerbated by the impacts of climate change.
