The head of the World Trade Organisation on Tuesday said global commerce was going through troubling times, with protectionism on the rise.
WTO chief Ngozi Okonjo-Iweala said the future of trade lay in services, digitalisation and the green economy, in the global trade body’s annual report.
“These are troubling times for global trade. Amid geopolitical tensions and the backdrop of the climate crisis, we see increased protectionism and unilateral policy measures,” she said.
“After years of talk of decoupling, trade may be starting to fragment along geopolitical lines.”
Opportunities do remain, she added, pointing to the potential for growth and job creation through digitalisation.
