Newday Reporters

Global Trade System Faces Deepest Crisis in 80 Years — WTO Chief Warns

Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, has raised alarm over what she described as the most severe disruption to the global trading system in eight decades, as ministers convened for the organisation’s top conference on Thursday.
Speaking at the opening of the WTO Ministerial Conference in Yaoundé, Okonjo-Iweala noted that the global economic landscape has undergone irreversible changes, warning that the multilateral framework that once guided international trade is under unprecedented strain.
According to her, the scale of challenges confronting the global economy cannot be ignored, as countries grapple with a combination of geopolitical conflicts, economic instability, and shifting global priorities.
Trade ministers from the WTO’s 166 member nations are meeting in the Cameroonian capital amid deep divisions and mounting uncertainty. The four-day conference is expected to focus on efforts to revive the relevance of the global trade body, which has faced increasing criticism over stalled negotiations, weakened cooperation, and a surge in protectionist policies.
The ongoing crisis in the Middle East has further compounded these challenges, disrupting key sectors such as energy, fertiliser, and food supply chains. Okonjo-Iweala stressed that even before the escalation of tensions in the Gulf, global trade had already been under pressure from multiple fronts.
She highlighted that governments and international institutions are struggling to respond effectively to rising geopolitical tensions, intensifying climate-related challenges, and rapid technological changes. These factors, she said, have contributed to growing skepticism about the effectiveness of multilateral cooperation.
The WTO chief explained that the current disruptions reflect a broader transformation of the global order established after World War II — a system originally designed to promote stability and prevent large-scale conflicts.
She added that the timing of the conference in Africa is significant, given the widespread instability across regions including the Middle East, Sudan, and Ukraine. Against this backdrop of global uncertainty, she emphasized the need for renewed dialogue and cooperation to chart a sustainable path forward for international trade.

Stories you may like