YAOUNDE: The global trading system is experiencing the &quot;worst disruptions in the past 80 years&quot;, World Trade Organization chief Ngozi Okonjo-Iweala warned as the WTO ministerial conference opened Thursday. &quot;The world order and the multilateral system we use to know has irrevocably changed,&quot; she said, adding: &quot;We cannot deny the scale of the problems confronting the world today.&quot; The World Trade Organization&#39;s 166 members appear deeply divided as trade ministers gather in the Cameroonian capital for the WTO&#39;s top conference, amid global economic turmoil linked to the Middle East war. Over four days in Yaounde, WTO members will try to revitalize an institution weakened by geopolitical tensions, stalled negotiations and rising protectionism against the backdrop of the war in the Middle East, which poses a serious threat to international trade. &quot;The scale of the problems confronting the world today, even before the conflict in the Gulf, destabilized trade in energy, fertiliser and food,&quot; Okonjo-Iweala said. &quot;National governments and international institutions alike have been struggling to navigate rising geopolitical tensions, intensifying climate pressures and rapid technological change. &quot;Accompanying these shifts has been an increasingly loud questioning of multilateralism.&quot; Okonjo-Iweala said these disruptions were just one symptom of broader upheavals shaking the international order created after World War II to prevent a repeat of the disasters of the first half of the 20th century. &quot;It feels appropriate that at the moment when the world is in turmoil with conflict in the Middle East, Sudan, Ukraine, and elsewhere, at this time of great disruption and uncertainty, we have gathered in Africa to discuss the road ahead for the global trading system,&quot; she said. &quot;Africa is the continent of the future.&quot; she said. WTO ministerial conferences are typically held every two years. This is the second to be held in Africa, after Nairobi in 2015.

Container ships at the Port of Oakland on 8 March 2023 in Oakland, California. (AFP/FILE)

Africa

World Trade Organization chief Ngozi Okonjo-Iweala warned global trade faces its worst disruptions in 80 years as ministers meet amid deep divisions and geopolitical turmoil.

Global trading system hit by 'worst disruptions in the past 80 years': WTO chief

UNITED NATIONS: China will not be seeking new special and differential treatment -- a privilege granted to developing countries -- in current and future World Trade Organization (WTO) talks, the country&#39;s official Xinhua news agency reported Tuesday. Xinhua cited Chinese Premier Li Qiang&#39;s remarks at a high-level meeting on the sidelines of the United Nations General Assembly. &lsquo;Major developing country&rsquo;In making the announcement, Li noted that the world&#39;s second biggest economy was behaving as &quot;a responsible major developing country,&quot; Xinhua reported. WTO agreements contain provisions allowing developing countries special rights, and for other members to treat them more favorably. Such treatment includes longer timeframes for implementing commitments and measures to boost trading opportunities for these countries. But some wealthy nations have in the past said that China should no longer be classified as a developing country, which is something that nations decide for themselves. Relinquish the treatment&nbsp;Washington has previously argued that China should relinquish the treatment given to developing countries. On Tuesday, WTO chief Ngozi Okonjo-Iweala wrote on social media that according to Li, &quot;China will no longer have access to Special and Differential Treatment in new WTO Agreements.&quot;<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowtransparency="true" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1970582260849012958&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2Fnew%2F&sessionId=ef235de2b6ecd5e0e1ae8a1a8b8dfb4570691669&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 648px; display: block; flex-grow: 1;" data-tweet-id="1970582260849012958"></iframe></div></div>She lauded the announcement as a piece of &quot;major news key to WTO reform,&quot; adding that it was &quot;a culmination of many years of hard work.&quot;

Business

China announced it will no longer seek special and differential treatment as a developing country in current and future WTO agreements, signaling its role as a responsible major developing economy and supporting WTO reform efforts.

Articles tagged with "WTO"

Global trading system hit by 'worst disruptions in the past 80 years': WTO chief

China not seeking new special, differential treatment in WTO pacts