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Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has reiterated the call for “re-globalisation,” saying de-globalisation poses an enormous risk to developing countries, including Nigeria
Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has reiterated the call for “re-globalisation,” saying de-globalisation poses an enormous risk to developing countries, including Nigeria. She added that global prosperity would be adversely affected if trade is allowed to fragment into rival blocs.
Speaking at the 13th World Chambers Congress, she told business leaders that the current multilateralism serves global interest, though it needs urgent reform. Held every two years, the World Chambers Congress brings together participants from around the world to address common challenges that shape the activities of chambers of commerce and businesses.
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The WTO chief said rising geopolitical tensions, the COVID-19 pandemic, ongoing war in East Europe, climate shocks, and the resulting disruptions to trade have spiked concerns about whether the multilateral trading system still works. She urged business leaders to continue speaking up for multilateral cooperation on trade, adding that the “companies and chambers you run are at the centre of making trade work better for people and the planet.”
