WTO Chief Urges Urgent Institutional Reform

WTO Director-General Ngozi Okonjo-Iweala said in Geneva Wednesday that the World Trade Organization must urgently reform to remain relevant amid rising geopolitical tensions and rapid technological change, warning "the status quo is not an option." She cited stalled dispute settlement, the consensus rule, and noted 72% of global merchandise trade remains on the MFN principle, urging ministers at next month's Cameroon meeting to endorse a programme of work.