The head of the World Trade Organization stated that the international system has changed fundamentally and that countries must look to the future to consider how to reform the globaltrade system.
«The world order and the international system we used to rely on have changed irrevocably. We can’t turn back the clock… We must look to the future,» said World Trade Organization Director-General Ngozi Okonjo-Iweala, addressing delegates at the opening of the 14th WTO Conference in Yaoundé, Cameroon.
While 72% of global trade takes place within the framework of WTO rules, and the growth of trade related to artificial intelligence is a source of optimism, Ngozi Okonjo-Iweala stated that the global trading system faces significant uncertainty due to the conflict in the Middle East and the impact of tariffs imposed by Donald Trump’s U.S. on various countries.
Ngozi Okonjo-Iweala has compiled a list of problems facing the World Trade Organization, including the paralysis of the WTO’s dispute settlement body and transparency in the disclosure of subsidies.
Only 64 members of the Organization have submitted notifications to the WTO for 2025, which means that 102 have not submitted them, said Okonjo-Iweala.
«A lack of transparency leads to a lack of trust, and this fuels suspicions of unfairness and anti-competitive practices,» said the WTO Director-General to participants at the Yaoundé conference. This creates a vicious cycle of mistrust that prevents members from agreeing on new rules and reforms, she added.
