Yaoundé, Cameroon — The World Trade Organization (WTO) convened a pivotal ministerial conference in Yaoundé, Cameroon, on Thursday, amidst heightened tensions and a pressing call for institutional reform. Geopolitical tensions, protectionism, and the Middle East conflict have cast a shadow over global trade, adding urgency to the discussions.
WTO Director — General Ngozi Okonjo-Iweala addressed the need for a new chapter in the multilateral trading system, criticising unilateralism and a collective failure to address enduring frustrations. The conference’s tense atmosphere reflects broader fractures within the global trading system.
The WTO’s dispute settlement system has been non-functional since 2019, and consensus-based decision-making has frequently impeded progress. European Trade Commissioner Maroš Šefčovič advocated for “serious “reforms to address overcapacity and market policies, echoing the UK’s warning that the WTO risks irrelevance without change.
Divisions run deep, particularly concerning the “most-favored nation “principle, which has been challenged by the US under President Trump and is strongly supported by China. Experts express doubt over the likelihood of breakthroughs on core reform issues in Yaoundé, highlighting the conference as a critical test for the WTO’s continued relevance in the face of rising trade barriers.
Yaoundé is seen as a pivotal moment for the WTO’s future and its ability to navigate the complexities of global trade, with member countries addressing diverse challenges and priorities.
Source: Africanews
