The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, expressed satisfaction with the recent talks between the United States and China held in Geneva. She described these discussions as a "significant step forward" amid current global tensions. According to her statement, this progress is crucial not only for the US and China but also for other nations worldwide, including vulnerable economies.
Okonjo-Iweala emphasized the importance of both countries building on this momentum by developing practical solutions to mitigate tensions and restore predictability in international trade. "I urge both nations to build on this momentum by continuing to develop practical solutions that mitigate tensions, restore predictability, and strengthen confidence in the multilateral trading system," she stated.
Additionally, during conversations with China's Vice Premier He, Okonjo-Iweala discussed the need for reforms within the World Trade Organization. She acknowledged China's support for these changes and highlighted their importance in adapting the organization to better serve today's global trade environment. "During my conversations with Vice Premier He, we also addressed the need for WTO reform. I welcome China's support for these reforms and the repositioning of the organization to better serve today's global trade environment," she said.