The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, and Japan's Prime Minister have issued a joint call to strengthen the global trading system. According to a press release following their meeting, they addressed "the growing pressures facing the multilateral trading system, including rising trade tensions and risks of fragmentation."
Both leaders emphasized the importance of maintaining a strong multilateral trading system during times of uncertainty. "They shared the view that, in a time of uncertainty and disruption, the value of the multilateral trading system is unquestionable. They reiterated their shared commitment to working closely together, along with other WTO members, to manage current and future tensions in global trade, to strengthen the multilateral trading system, and to advance meaningful reform of the WTO."
Discussions focused on free, open, and predictable trade as crucial for growth. The role of the WTO as central to reinforcing this system was highlighted in their discussions.
During her visit to Tokyo, DG Okonjo-Iweala also met with key Japanese ministers including Foreign Affairs Minister Takeshi Iwaya, Finance Minister Katsunobu Kato, and Economy Minister Yoji Muto.
Following her engagements in Japan, DG Okonjo-Iweala will travel to South Korea for a meeting at the Asia-Pacific Economic Cooperation forum scheduled for May 15-16 in Jeju.