WTO Chief Says Global Trading System Risks Descending into "Chaos"
Ngozi Okonjo-Iweala, addressing journalists at the Association of Accredited Correspondents briefing at the UN headquarters in Geneva, defended the continued necessity of multilateral institutions amid growing skepticism about their effectiveness.
"At a time of geopolitical tensions, international cooperation has never been more needed," she said, emphasizing that platforms like the WTO enable nations to "come together … to try to handle these problems."
The director general made clear that maintaining current operations without adaptation would prove untenable.
"Multilateral organizations like ours need to change to be fit for purpose," she said.
Okonjo-Iweala painted a grim picture of what abandoning the WTO's regulatory framework would mean for international commerce, with businesses confronting unpredictable tariff regimes, inconsistent product specifications, and arbitrary customs protocols.
"I'll be very honest with you, there'll be chaos," she said, warning that nations would operate without constraints.
Drawing historical parallels, she invoked the protectionist cascades that characterized the 1930s economic crisis as a cautionary tale. "No one wants to see a rerun of a bad movie."
An upcoming ministerial conference scheduled for later in 2026 will likely endorse an ambitious agenda focused on "comprehensive reform or deep reform" rather than quick fixes, Okonjo-Iweala indicated.
She identified widening global disparities and fundamental economic realignments as catalysts fueling current frictions, necessitating modernized regulatory structures and enhanced international collaboration.
The WTO must simultaneously rectify existing vulnerabilities while capitalizing on emerging opportunities in digital commerce and sustainable trade sectors, she argued.
"We have not only to be resilient, we have to be robust … and to be robust, we must reform," she said.
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