Ngozi Okonjo-Iweala, director-general of the World Trade Organisation (WTO), has warned that global trade will not revert to its pre-disruption state, urging countries and businesses to prepare for a future shaped by uncertainty and resilience.
Speaking on Friday during a panel session on the global economic outlook at the 2026 World Economic Forum in Davos, Switzerland, Okonjo-Iweala said policymakers and business leaders must plan for a world that is fundamentally different from the past.
“I don’t think we will go back to where we were,” she said. “If I were a business or a policymaker, I would be planning for a world that is not going to return to its former state — a world with built-in uncertainties that requires resilience at both national and corporate levels.”
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The WTO chief said governments should focus on strengthening domestic and regional capacities, noting that while global trade conditions may stabilise over time, the old system will not fully return.
Okonjo-Iweala described the current disruption to global trade as the most severe in 80 years, pointing to geopolitical tensions and unilateral actions that have weakened multilateral trade rules.
Despite these challenges, she said the global trading system remains resilient, noting that the majority of international trade still operates under WTO rules.
“About 72 percent of world trade is still conducted on WTO terms, which shows the system’s resilience,” she said.
However, she stressed that resilience does not mean the system is without flaws, adding that reforms at the WTO are necessary to address existing challenges.
While acknowledging disagreements over unilateral trade actions, Okonjo-Iweala said there is broad agreement that the global trade system requires change, which has informed ongoing reform efforts at the organisation.
She also urged policymakers to avoid knee-jerk reactions to short-term developments, calling for what she described as “steady nerves.”
The WTO director-general further warned against excessive dependence on major economies such as the United States and China, encouraging countries to diversify their trade relationships and supply chains.
