World Trade Organization (WTO) chief Ngozi Okonjo-Iweala has called for urgent reforms to restore stability and predictability in global trade, as pressure mounts from member states divided over trade equity, dispute resolution, and institutional transparency.
In an interview with China Global Television Network (CGTN), Okonjo-Iweala emphasized the WTO’s role as a stabilizing force in global trade, enabling businesses to anticipate tariffs and market shifts, fostering a more predictable trading environment.
"I think the role of the WTO is to provide stability and predictability in world trade and business people trade, and many of the business people from all our members, they understand very well the value of the WTO. Business people who trade want predictability and stability. They want to know that when their goods go from one country to another that they are going to arrive and they will know how the goods will be valued, what tariffs to expect and therefore how marketable their goods will be in the country that is importing those goods and whether they'll make a profit out of it. So the predictability of global rules is what the WTO stands for and the stability," she said.
At the same time, she said that it is essential to recognize the often-overlooked rules that facilitate trade, and the WTO must address criticisms from its members to reform and improve the system amid the current global trade crisis.
"So I think that this is what is important. People take the system for granted. They expect to walk into a store and just find the goods they want to buy sitting there but the rules that underpin that trade that brings the goods is not well known. Now, we also need to admit that you talked about reforms, that the WTO needs to listen to criticisms. And the WTO is made-up of its members, and many of them are criticizing one thing or the other about the way it functions. This is a golden opportunity for members to say, ok, global trade is in a crisis, let's seize the opportunity to do the reforms and tackle the challenges of the system and make it even better," she said.
Okonjo-Iweala’s remarks come at a time of heightened global anxiety over U.S. trade policies, which have reignited fears of a broader trade war. As protectionist measures ripple across economies, her call for reform underscores the WTO’s increasingly vital role as a mediator and guardian of global trade rules.
WTO chief highlights predictable rules, fair access as key to global trade stability
