April 21, 2024
World Economy

WTO Chief Sees Trade Missing Forecasts on Growth Headwinds

The head of the World Trade Organization said global commerce, after proving resilient through the pandemic, is performing weaker than forecast amid multiple economic headwinds and a political tilt toward protectionism.

“We need to repair the multilateral trading system, reform it, make it fit for purpose, but don’t take it for granted,” Director-General Ngozi Okonjo-Iweala said during a press conference Monday in Abu Dhabi, where trade ministers are gathered for the WTO’s 13th biennial conference. The global trading system “is continuing to be quite strained.”

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