By AFP
The global system as we once knew it has changed, and the time has come to move forward, to reform, and above all to rethink the founding rules of the World Trade Organization.
In essence, this is the objective of the WTO’s four days of meetings and inter-ministerial sessions taking place in Cameroon’s capital, Yaoundé, since Thursday.
Its director-general, Ngozi Okonjo-Iweala, said the multilateral system has fundamentally changed and that countries must look to the future to consider how to reform the global trade system.
“The world order and multilateral system we used to know has irrevocably changed. We will not get it back …We must look to the future,” she told delegates at the opening of the 14th WTO ministerial conference.
“That means figuring out what worked well in the old order so we can keep it and build on it. It means figuring out what did not work well so we can repair it. And it also means identifying the gaps in the renewed order we are shaping so we can close them,” she said.
The gathering comes as the world faces a war in the Middle East, notably involving the United States, Iran, and Israel, which has triggered a major global energy crisis.
At the same time, the international trade organisation has already been weakened by internal divisions. Okonjo-Iweala said decisive action is needed.
Over the next few days, the 4,000 delegates in Yaounde will be discussing the organisation’s future as the world trading system faces significant uncertainty due to the conflict and tariffs imposed on countries by the United States.
