- She noted that diversification has become essential
- She advised nations to focus on strengthening regional trade ties
- she said the world should brace for a new normal that demands adaptability
World Trade Organisation (WTO) Director-General, Ngozi Okonjo-Iweala, has cautioned governments and businesses against expecting global trade to return to its former stability, stressing that the world must now adjust to a more uncertain and fragmented trading environment.
Eko Hot Blog reports that Okonjo-Iweala made the remarks on Friday while speaking at the World Economic Forum in Davos, where she highlighted how over-reliance on a handful of major economies has left global trade exposed to shocks caused by tariffs, geopolitical tensions, and supply chain disruptions.
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According to her, countries that depend heavily on the United States for markets or China for critical supplies must urgently rethink their trade strategies.
She noted that diversification has become essential, pointing to efforts by countries like Canada to broaden their trade partnerships as a step in the right direction.
The WTO chief said the current wave of trade tensions is not a passing phase, insisting that policymakers and businesses must prepare for a future marked by built-in uncertainty.
She advised nations to focus on strengthening regional trade ties and building resilience to withstand future disruptions.
Okonjo-Iweala maintained that while the global trading system may stabilise over time, it will not revert to how it operated before recent disruptions.
Instead, she said the world should brace for a new normal that demands adaptability, resilience, and diversified economic relationships.
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