Saudi Gazette report
RIYADH — World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala emphasized that international cooperation is essential for addressing current challenges and ensuring a stable global trading system that fosters development and sustainable growth. “Despite significant challenges, the international trading system continues to effectively stabilize global trade, with more than 70 percent of trade conducted within the WTO framework,” she said while speaking at the 9th Future Investment Initiative (FII9) Conference in Riyadh on Tuesday.

Okonjo-Iweala highlighted the need for reforms to adapt to rapid economic and technological changes. Addressing a session on "Is the World Heading from Free to Strategic Trade?", she described the current period as an opportunity to rebuild the global trading system on more flexible and equitable foundations, supported by 4 percent global economic growth and an 8 percent rise in digital trade, with e-commerce approaching $1 trillion.