Small countries must defend multilateral trade system, says WTO chief
Summary
WTO chief Ngozi Okonjo-Iweala has urged smaller and developing countries, including Nepal, to defend the multilateral trading system and push for reforms that make global trade rules work better for them. She said Nepal should use the rules-based system to attract value-chain investment and expand domestic manufacturing and trade participation.
Key Points
- Ngozi Okonjo-Iweala said smaller countries must actively defend and reform the multilateral trading system instead of remaining passive.
- She said Nepal’s trade interests are better protected by a rules-based system because its commerce is tied closely to India and China.
- WTO officials said developing economies still need stronger support to improve export quality and trade capacity.
- The WTO’s ePing platform and other tools are being promoted to help small businesses understand foreign market regulations.
