DG Okonjo-Iweala urges parliamentarians to step up support for multilateralism, WTO reform

In her opening address, the Director-General highlighted the entry into force of the WTO’s Agreement on Fisheries Subsidies following ratification of the Agreement by two-thirds of WTO members. Hailing it as a landmark for sustainability, she said: “Yesterday, we witnessed a historic occasion, the coming into effect of the Agreement on Fisheries Subsidies, doing away with about 22 billion in harmful subsidies that lead to illegal, unreported and unregulated fishing. The reason it’s important is because you worked so hard for it, supporting us in getting your parliaments and governments to back this Agreement.”

She underlined that, despite current challenges from new unilateral tariffs and broader tariff uncertainty, the core of the global trading system remains stable.

She said: “Prior to the tariffs, 80% of world trade was taking place on WTO most favoured nation terms. Now, we are down to 72%, so you can see it’s undoubtedly had an impact. But almost three-quarters of world goods trade is still taking place on WTO terms.”

At the same time, the system is in clear need of reform, she said. She highlighted that many members have pointed to outdated rules, gridlock in decision-making, and persistent problems in dispute settlement reform.

She said: “This is now a golden opportunity to use this crisis as an opportunity to reform the system and do the necessary reforms to reposition it to deliver for the future.”

The Parliamentary Conference on the WTO is the main platform through which legislators engage with WTO issues, exchange perspectives across political and regional lines, and contribute to strengthening the multilateral trading system. The Steering Committee session in Geneva provided an opportunity to take stock of recent developments in trade, review progress on WTO reform, and discuss how parliamentary engagement can support preparations for the 14th Ministerial Conference (MC14), which will take place in Yaoundé, Cameroon, in March 2026.

The DG emphasized that MC14 will be an important juncture for WTO reform. Ambassadors in Geneva are working to outline a reform agenda, with Norwegian Ambassador Petter Olberg facilitating discussions, she said. But ambassadors cannot do it alone: ministers and parliaments must bring their political weight to the talks well before MC14, she emphasized.