WTO to Hold Ministerial Conference in Yaoundé Amid Global Trade Slowdown from West Asia Conflict

Kathmandu. It has been reported that the World Trade Organization (WTO) has scheduled a ministerial-level conference in Yaoundé next week to pave a proper path for the sluggish trade caused by the West Asia conflict. The conference is expected to seek a path to improvement amidst global trade tensions and US tariff barriers.

The WTO Ministerial Conference is the highest decision-making body concerning world trade, usually held every year.

The conference, to be held in Cameroon's capital from March 26-29, is being organized against the forecast that the WTO's global trade growth will slow down due to high risks and the war in the Middle East.

Director-General Ngozi Okonjo-Iweala stated that it is necessary to maintain continuous system reform through a call for awakening amidst difficult geopolitical situations. Petros Mavroidis, a professor at Columbia Law School, warned that the current situation is likely to be more tense compared to previous ministerial conferences.

The European Union has also stated that the WTO is at a critical and existential stage, while the UK has stated that priorities will not remain without significant reform.

Irwin Bollinger, Swiss Ambassador to the WTO, warned that if the WTO loses relevance, the trade system could further fragment.

This will be the first WTO ministerial conference since Donald Trump returned to the White House last year, which has obstructed multilateralism and the WTO rules against attacks on tariffs and bilateral trade agreements. Meanwhile, the US has currently withdrawn from the WTO.

Joseph Barloon, the US Ambassador to the WTO, stated last week that his country has rejected the current WTO reform proposal. However, other developing countries, such as China, have stated that this rule should become the basis of the WTO.

The organization had been facing structural and geopolitical obstacles even before Trump returned to power.

Its dispute settlement system has also been weakened because the United States has blocked the appointment of new judges since 2019. Trump's aggressive trade policy has increased trade and national security concerns, and the WTO is under extreme pressure, a Western diplomat said on condition of anonymity.