This chapter examines the evolution of global agri-food trade governance, tracing its transformation from the General Agreement on Tariffs and Trade (GATT) to the World Trade Organization (WTO) and the rise of mega-regional free trade agreements (FTAs). It highlights how agriculture, initially shielded from liberalization, became fully integrated into multilateral disciplines through the Uruguay Round and the Agreement on Agriculture, reshaping global food value chains. The analysis shows how WTO rules on market access, domestic support, and export competition sought to level the playing field. At the same time, non-tariff measures, particularly sanitary and phytosanitary standards, continue to pose challenges for developing economies. Against the backdrop of stalled WTO negotiations, mega-FTAs such as the CPTPP, RCEP, EU-Mercosur, and AfCFTA have emerged as critical frameworks, introducing deeper commitments on regulatory cooperation, sustainability, and digital trade. These agreements reshape competitive dynamics, offering opportunities but also risks of preference erosion and marginalization for non-members. Particular attention is given to smallholder farmers, who remain central yet vulnerable actors within these shifting trade regimes. The chapter argues that inclusive policies, capacity-building, and sustainability provisions are essential to ensure that global agri-food trade promotes food security, equitable participation, and resilience in an era of complex interdependence.