WTO chief says current disruptions are worst since 1930s

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said the current disruption to the global trading system marks the most severe challenge since the 1930s, as the global economy faces its toughest phase since the Great Depression.

Speaking at the Fortune Global Forum in Riyadh, Okonjo-Iweala said global trade is experiencing its biggest upheaval in 80 years, noting that the system is not functioning at its usual level of efficiency. She stressed, however, that the current situation does not resemble the dark decade of the 20th century.

She added that the WTO-led system has shown strong resilience, with about 87% of global trade still governed by its rules, despite challenges raised by some member countries, including the United States.

Okonjo-Iweala said many of the US criticisms of the global trading system are valid and called for the current crisis to serve as an opportunity for comprehensive reform.

She added that the future of the global trading system will be shaped by the expansion of digital trade and artificial intelligence, noting that the WTO is working on a new global e-commerce agreement expected to be completed by the ministerial conference in March 2026.