Director-General Ngozi Okonjo-Iweala Stresses Importance of WTO Reforms
GENEVA – Ngozi Okonjo-Iweala, the head of the World Trade Organization, reaffirmed the organization’s relevance in the face of global challenges. Despite past controversies, including actions by former U.S. President Donald Trump, the WTO remains focused on reform initiatives.
Okonjo-Iweala expressed frustration with the perception of the WTO as irrelevant, highlighting its critical role in governing world trade. She emphasized that 75% of global trade operates under WTO terms, underscoring the organization’s significance.
The upcoming meeting in Abu Dhabi will address pressing issues such as fishing subsidies and agricultural trade. Okonjo-Iweala’s leadership in previous negotiations, notably on COVID-19 vaccine production and fishing subsidies, has garnered praise.
While acknowledging challenges, including the absence of a functioning appeals court due to U.S. actions, Okonjo-Iweala stressed the importance of upholding WTO rules. The organization faces a complex geopolitical landscape, with elections in various countries adding to the uncertainty.
Okonjo-Iweala emphasized the need for ongoing reforms, irrespective of political transitions. She warned against the consequences of disregarding WTO principles, stating that adherence to established rules is crucial for global stability.
Amid trade tensions and economic disparities, Okonjo-Iweala advocated for resilience and cooperation. She urged countries to prioritize adherence to WTO regulations to navigate challenges effectively.
