Abstract: WTO reform proposals submitted by members and the points raised in discussions with the Facilitator show a wide range of views on the WTO’s foundational principles that aim to maintain an inclusive, non-discriminating, equitable (fair) and predictable multilateral trading system. These principles are embodied in and implemented through most favoured nation (MFN) treatment, decision-making based on consensus, special consideration for developing economies, in particular least developed countries, including through special and differential treatment (S&DT), improved transparency and notification, and a two-tier dispute settlement system. One set of views continues to emphasise these principles, while another set aims to amend them (consensus, MFN), on the grounds that these changes are required to make it easier to conclude new agreements among those members that wish to negotiate them. The latter set of proposals aims at facilitating plurilateral trade agreements, which in WTO are defined as Annex 4 agreements (i.e., no MFN and no predictability for non-members after they are accepted in the system). This paper examines the whole range of issues starting with identifying the key principles of the WTO system and the reasons why some members wish to change them. In that background the paper explains that if the foundational principles are changed in any significant way, that would adversely affect inclusiveness, fairness, and S&DT in the WTO system, and introduce considerable unpredictability within the system. The extent of unpredictability would be heightened if plurilateral trade agreements are considered only as Annex 4 agreements. This suggests a need to carefully examine the options that help maintain the foundational principles and also consider a need for redefining plurilateral trade agreements so that they do not lead to the kind of unpredictability that would be introduced if they are only Annex 4 agreements. In this context, the paper discusses various options/solutions that help maintain the significant role of WTO’s foundational principles while also addressing the members’ present concerns on more effective operations of the system and enable them to reach new agreements.