Okonjo-Iweala Warns Against Protectionism

Urges Leaders to Champion Open Trade

The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala has cautioned against reverting to protectionist policies reminiscent of the 1930s, emphasizing the need to build on the strengths of the multilateral trading system.

Speaking at the Next Milan Forum on Empowering Future Leaders, Okonjo-Iweala addressed a gathering of about 1,000 young leaders, urging them to become WTO ambassadors. She highlighted the organization’s purpose of enhancing living standards, creating jobs, and supporting sustainable development.

The WTO chief stressed that the current global trade environment is challenging, but emphasized the importance of learning from past mistakes. She encouraged young leaders to champion open, rules-based trade, while advocating for reforms to address the system’s shortcomings.

By promoting a rules-based trading system, Okonjo-Iweala believes that leaders can support both people and the planet, ultimately driving sustainable development and economic growth.