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WTO Head: Old World Trade Order Irrevocably Changed
26 Mar
Summary
- WTO Director-General states the old world order has changed irrevocably.
- Only 64 members filed subsidy notifications for 2025, 102 did not.
- Lack of transparency breeds mistrust and hinders new trade rule agreements.
The multilateral system of global trade has irrevocably transformed, according to the World Trade Organization's Director-General, Ngozi Okonjo-Iweala. Speaking at a conference in Yaounde, Cameroon, she asserted that the past cannot be recaptured and that future-oriented reforms are essential.
Despite 72% of global trade operating under WTO rules, with AI-related trade showing growth, significant uncertainties loom. These include ongoing conflicts in the Middle East and the repercussions of U.S. tariffs on various nations.
A major concern raised is the paralysis of the WTO's dispute settlement body and the insufficient transparency in subsidy notifications. For 2025, only 64 out of 166 members had filed their subsidy notifications, leaving 102 members non-compliant.
Okonjo-Iweala stressed that this lack of transparency breeds suspicion and mistrust, creating a cycle that hinders members from agreeing on necessary rules and reforms for the global trade system.
