Yaoundé, Cameroon — The World Trade Organization (WTO) convened a pivotal ministerial conference in Yaoundé, Cameroon, on Thursday, with its 166 member nations facing a complex tapestry of deep divisions and a collective urgency for reform. The gathering, held against the backdrop of escalating geopolitical tensions, protectionism, and the ongoing conflict in the Middle East, has raised concerns over the future of global trade.
WTO Director — General Ngozi Okonjo-Iweala opened the conference by calling for a new era in the multilateral trading system, decrying the rise of unilateralism and the systemic failure to address enduring grievances. She highlighted the paralysis of the WTO’s dispute settlement system since 2019 and the frequent stalemate in consensus-based decision-making as pressing issues.
European Trade Commissioner Maroš Šefčovič emphasized the need for substantial reforms to address challenges such as overcapacity and market policies, warning that the WTO risks obsolescence without change. Britain echoed these sentiments, cautioning that the organization is at risk of becoming irrelevant unless reforms are enacted.
Despite these calls, the conference has been marked by significant divisions. The United States, under the Trump administration, has questioned the “most-favored nation “principle, while China insists on its foundational role. Experts are pessimistic about reaching breakthroughs on core reform issues in Yaoundé. Former WTO chief Pascal Lamy noted that the conference is a critical test for the organization’s relevance in the face of rising trade barriers worldwide.
Yaoundé is viewed as a crucial juncture for the WTO, with the outcome of the meeting seen as a pivotal moment for the organization’s future. As the conference continues through the weekend, the international community awaits further developments and the potential impact on global trade relations.
Source: Africanews
