The Director General of the WTO, Ngozi Okonjo-Iweala, opened the day by highlighting that this anniversary provides a valuable opportunity to reflect collectively on the crucial role of WTO and to promote the necessary reforms that strengthen the global trading system.
El Marrakech Agreement, signed on April 15, 1994 by 123 nations, marked the birth of the WTO on January 1, 1995. During these three decades, the WTO has been a fundamental engine for the expansion of world trade, contributing to raising living standards, fostering employment and promoting sustainable development globally.
The President of the General Council, the Ambassador Saqer Al Moqbel of Saudi Arabia, highlighted the positive impact of the WTO in improving the quality of life through trade, promoting international cooperation and maintaining a trading system based on clear rulesHe stressed the importance of the multilateral system as an essential space for collaboration to build a better future through trade, especially in a context of economic uncertainty and changes in global trade.
Director-General Okonjo-Iweala emphasized the relevance of this commemoration at a time marked by tariff tensions and a rapid evolution of events that generate instability in the global economy. "The uncertainty surrounding world trade has reminded many members why they value the WTO as a foundation of predictability in the global economy and as a platform for dialogue and cooperation on trade," he stated.
Okonjo-Iweala noted that the legitimate concerns expressed by various members about the WTO should be interpreted as an opportunity to push for comprehensive reform of the system.
He proposed a "far-reaching reform program" to improve areas that are not working and prepare the WTO for future challenges. In this regard, he mentioned suggestions submitted by members to strengthen oversight, transparency, negotiations, and dispute settlement.
The Director General urged that the right questions be asked to guide the reform process, which should be member-led and culminate in the 14th WTO Ministerial Conference (MC14) en Yaoundé, Cameroon, from March 26 to 29, 2026.
Underlining the “incalculable value” of an organization that, with an annual budget of 205 million Swiss francs, ensures that trillions of dollars in global trade are governed by rules and trust, Okonjo-Iweala noted that the WTO goes far beyond tariffs and continues to deliver the benefits for which it was created. “I remain convinced that a bright future awaits global trade and the WTO if we do the right thing,” she concluded.
Former Prime Minister of Portugal and former President of the European Commission, Jose Manuel Durao Barroso, gave the opening address, highlighting the crucial role of the WTO in reducing extreme poverty for 1.500 billion people since 1995. Barroso emphasized the need for the WTO in a complex global economy, highlighting its historic achievements such as the reduction of tariffs and increased world trade to more than $30 trillion by 2023. He advocated cooperation, dialogue, and pragmatism as fundamental pillars for global prosperity and peace.
Barroso likened the WTO's current situation to a "quarter-life crisis," acknowledging its successes but also the major existential challenges it faces in a constantly changing world. However, he stressed that the WTO is probably more necessary today than when it was created in 1995, in a world where economic power is much more widely distributed.
The event continued with plenary sessions where former Directors-General and former General Council Chairs reflected on the work of the WTO and its contribution to poverty reduction. Trade ministers, business leaders, and civil society representatives also discussed key areas that will shape the organization's future over the next 30 years.
To conclude the day, the Friends of the System group issued a statement reaffirming its support for the rules-based multilateral trading system and recognizing the value and achievements of the WTO. The statement, endorsed by 39 members, urged a renewed commitment to reforms to ensure the WTO continues to respond to the needs of its members and strengthen its relevance in the global market. world stage.
Any questions about this news?
Talk to Coexia, the AI of the foreign trade
