WTO Chief Warns of 80-Year Trade Disruption Crisis

During the WTO ministerial conference held in Yaoundé, Cameroon, Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization, warned that global trade is facing its worst disruption in 80 years. This conference, which convened representatives from 166 member states, aims to revitalize the global trade body amid increasing protectionist policies and geopolitical tensions, particularly due to ongoing conflicts in the Middle East.

Okonjo-Iweala highlighted the urgent need for adaptation to the rapidly changing global order, which is influenced by conflicts, climate pressures, and technological shifts. She noted that the long-standing system of global cooperation is under strain, with countries increasingly turning inward.

The conference seeks to address these disruptions and stabilize markets to restore confidence in the global trade system. John Denton, Secretary-General of the International Chamber of Commerce, emphasized the importance of reaching a meaningful consensus at the conference to tackle these challenges effectively.