The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has acknowledged that two decades of negotiations on the trade aspects of cotton have failed to achieve their intended goals. Speaking at the opening of "World Cotton Day 2023" hosted by the United Nations Industrial Development Organization (UNIDO) in Vienna, Okonjo-Iweala called on WTO members to take decisive action on cotton at the upcoming 13th Ministerial Conference in February.
According to the WTO, the negotiations on the trade market of cotton have fallen short of their final and main result. Okonjo-Iweala stressed the need for progress in addressing the trade aspects of cotton, particularly as the international markets are distorted, hindering the fair participation of many cotton-producing countries. The livelihoods of millions of people in some of the poorest nations depend on the fairness of the cotton market, making this issue of utmost importance.
The 13th Ministerial Conference of the WTO will take place in Abu Dhabi, United Arab Emirates, from February 26 to 29, 2024. During the conference, ministers will review the global trading system and discuss future projects for the WTO. Okonjo-Iweala hopes that members will collectively define and pursue an appropriate outcome for the cotton problem, finding a solution that benefits all stakeholders.
The significance of cotton as a global commodity was highlighted on World Cotton Day (WCD), which was established at WTO headquarters in 2019. The day aims to recognize the importance of cotton and its impact on the livelihoods of millions of people. In September 2021, World Cotton Day officially became the United Nations International Day of Cotton, further underscoring the global significance of this commodity.
In conclusion, the Director-General of the WTO has acknowledged the failure of two decades of negotiations on the trade aspects of cotton. With the upcoming 13th Ministerial Conference, Okonjo-Iweala urges WTO members to prioritize finding a solution for the cotton problem, ensuring fair participation and livelihoods for cotton-producing countries.