Speaking at the Future Investment Initiative Conference in Riyadh on Tuesday, Okonjo-Iweala said the 30-year-old WTO must evolve to remain effective in addressing modern trade challenges.
“We need to reform the system; we cannot be complacent,” she said. “The consensus decision-making system, which operates as unanimity — meaning everyone must agree — often delays vital trade decisions.”
She urged the WTO’s 166 member nations to engage constructively with the United States on its criticisms of the organization, acknowledging that some of Washington’s concerns are legitimate.
Okonjo-Iweala noted that the global trading system is facing its biggest disruption in eight decades but stressed that it remains resilient.
“The fact that almost three-quarters of world goods trade is still going on under WTO terms is amazing,” she said, praising member nations for avoiding retaliatory actions amid trade tensions, particularly during former U.S. President Donald Trump’s tariff era.
The WTO chief reaffirmed her commitment to leading reforms that would make the organization more responsive, transparent, and better equipped to handle current and future global trade challenges.
