The head of the World Trade Organization called for an end to the trade war
The 27-year-old World Trade Organization (WTO) was scheduled to hold a major ministerial meeting this week under pressure to prove its quality, with a plan to update new trade regulations as one of its main topics, IRNA reported on Wednesday. Gave.
But the re-imposition of travel restrictions due to the outbreak of the Omicron Corona delayed the meeting and dampened hopes for progress.
In an interview with Reuters, WTO President Inguzi Okunja Ivela asked if the organization could be reformed. He said: Sure, but whether such an action will be easy or not is another matter.
“I think such a move is difficult because of the mistrust between the members of the organization,” he said.
The institution was weakened by the decision of former US President Donald Trump to block the appointment of judges to the World Trade Organization Restructuring Court.
Okunja Ivela said in the interview that the WTO dispute settlement system should be maintained to prevent future trade wars.
Stating that the current WTO situation is fraught with geopolitical tensions, he warned that the regulatory-based trading system has been replaced by the power-based trading system, and that smaller countries are still suffering the most.
The Secretary-General of the World Trade Organization, who has held the post since March, said he sees many opportunities for the organization in the areas of climate change assistance through global carbon pricing, and that the organization could play a role. Take the lead in combating climate change.
Iwala has a background in the Nigerian Ministry of Finance and has worked for the World Bank for 25 years. He has dual US and Nigerian citizenship.
His election was finalized after US President Joe Biden backed his presidency of the World Trade Organization. Former US President Donald Trump opposed the election of Aywala.
Trump has repeatedly accused the World Trade Organization of treating the United States unfairly and has waged a trade war with China against its rules and regulations.
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