Okonjo-Iweala: 72% of Global Trade Still Runs on WTO Rules

WTO Director-General Ngozi Okonjo-Iweala says global trade remains largely rules-based despite rising tariffs, policy uncertainty and geopolitical tensions. Speaking at the Africa Emerging Markets Forum in Abuja, she said 72% of global goods trade still takes place under the WTO's core most-favoured-nation tariff rules. A further 16% operates within the broader WTO framework through bilateral and regional trade agreements. She added that merchandise trade in 2025 was 12% above pre-pandemic 2019 levels, while services trade was up 31%. Demand for AI-related goods helped merchandise trade grow by 4.6%, while services trade rose 5.3%. Okonjo-Iweala warned that the Strait of Hormuz crisis is driving up energy, fertiliser and food costs, with vulnerable African countries facing the greatest impact. She also noted the growing importance of South-South trade among developing economies.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.