Geneva, March 27 (SANA) The global multilateral trade system has undergone fundamental, irreversible changes, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said Thursday, urging countries to look forward and explore reforms to strengthen international commerce.
Speaking at the opening of the WTO ministerial conference, Okonjo-Iweala said “The world system and the multilateral system we knew have changed irreversibly. We will not return to the old system. We must look to the future,” warning that the global trading framework is experiencing “the worst disruption in eight decades” according to Sky News Arabia.
She noted that 72% of world trade still operates under WTO rules, with AI-related trade emerging as a bright spot. However, uncertainty persists due to the ongoing Middle East conflict and the impact of U.S. tariffs on global markets.
Okonjo-Iweala outlined structural challenges facing the organization, including a paralyzed dispute settlement body and weak transparency in subsidy reporting. Only 64 member countries have submitted their 2025 support notifications, leaving 102 members without submissions. She said the lack of transparency fosters distrust, raises concerns over potentially unfair or anti-competitive practices, and creates a “vicious cycle” that hampers agreement on new rules and reforms.
The WTO, which succeeded the General Agreement on Tariffs and Trade (GATT) in 1995, regulates global trade between nations. In recent years, the system has faced escalating challenges, including trade disputes, declining trust in multilateralism, and transparency gaps that have shaken its traditional rules.
k.A.R
