WTO Ministerial Conference Held After 5 Years... Secretary-General: "Unprecedented Multiple Crises"

Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO)
[Photo by AP]

[Asia Economy Reporter Jeong Hyunjin] The World Trade Organization (WTO) Ministerial Conference was held for the first time in five years, and on the 12th (local time), Ngozi Okonjo-Iweala, WTO Director-General, emphasized the need for solidarity, stating that the international community is facing an unprecedented 'polycrisis' including COVID-19 and the Ukraine war.

According to major foreign media, Director-General Okonjo-Iweala said at a press conference opening the 12th WTO Ministerial Conference held in Geneva, Switzerland, "The world has changed since the last meeting in 2017. It has certainly become more complex." She mentioned the international security, food, and energy crises caused by COVID-19 and the Ukraine war, as well as the climate crisis, pointing out, "In my life, I have never seen so many conflicts erupt simultaneously."

Director-General Okonjo-Iweala emphasized the importance of global solidarity and strengthening multilateralism, saying, "This polycrisis or simultaneous multiple crises are truly unprecedented. What is very important here is that no single country can solve this crisis on its own."

The WTO Ministerial Conference, attended by trade ministers from 164 WTO member countries, will be held over four days until the 15th. In principle, it is held every two years, but due to the COVID-19 pandemic, the meeting was postponed and is being held this year for the first time in five years since 2017. The main issues of this conference are ▲waiver of intellectual property rights on COVID-19 vaccines ▲prohibition of fishery subsidies ▲resolution of food and energy crises ▲WTO reform.

Regarding whether there will be achievements at this conference, Director-General Okonjo-Iweala took a cautious stance. She said, "I am cautiously optimistic that we will achieve results on one or two issues," adding, "But the path to get there will not be easy. The road will be bumpy, rocky, and there may be landmines along the way." She also added that countries cannot get everything they hope for, and compromises reached through negotiations will never be perfect.

This content was produced with the assistance of AI translation services.