China ‘central’ to WTO reform, global trade chief Ngozi Okonjo-Iweala says
- Nigeria’s Ngozi Okonjo-Iweala took over as the director general of the troubled World Trade Organization (WTO) in March
- The Geneva-based body widely acknowledged to be in need of overhaul and reform and it has been operating without its Appellate Body since December 2019
World trade chief Ngozi Okonjo-Iweala says she has been “heartened” by China’s commitment to revitalising the multilateral trading system, insisting the country is “central” to reform at the World Trade Organization (WTO).
In 2001, China joined the WTO, and 20 years later, China has significantly transformed itself whilst the world has also changed
“Looking into the future, we need to strengthen the multilateral system with more effective global governance to support a strong, sustained, an inclusive global economic recovery,” she told the Boao Forum for Asia on Tuesday.
“A reinvigorated WTO would be an essential part of a strengthened multilateralism. It would enhance openness, transparency, global markets, and reinforce the certainty and predictability provided by the multilateral trading system.”
China joined the WTO in December 2001, with Okonjo-Iweala acknowledging the “monumental moment that happened 20 years ago”.
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“In 2001, China joined the WTO, and 20 years later, China has significantly transformed itself whilst the world has also changed,” she added.
