Trade ministers from around the world have gathered in Yaoundé, Cameroon, for a high-stakes four-day summit aimed at reforming the World Trade Organization (WTO), as fears grow over the future of global trade cooperation. Diplomats warn that failure to reach a consensus could force countries to bypass the WTO entirely, creating separate trade frameworks and deepening divisions in the global economy.
The urgency of the talks reflects mounting global pressures. The economic fallout from the ongoing US-Israeli conflict with Iran has driven up energy prices and disrupted food supply chains, placing additional strain on already fragile markets. Businesses are also grappling with the aftershocks of renewed tariff disputes, particularly those linked to former US President Donald Trump’s aggressive trade measures. John Denton, Secretary-General of the International Chamber of Commerce, cautioned that the current situation could escalate into one of the most severe industrial crises in decades, especially as fertiliser shortages threaten food security across Africa.
Despite the urgency, ministers arrive at the summit with no clear roadmap for reform. Years of stalled negotiations and a paralysed dispute settlement system have left the WTO struggling to maintain its relevance. Key global players remain divided, with the United States backing reform in principle but resisting a structured plan, while the European Union, the United Kingdom, and China push for a more defined agenda. WTO Director-General Ngozi Okonjo-Iweala has already signaled that negotiations will be challenging, reflecting the deep-rooted disagreements among member states.
Concerns over the consequences of failure have been strongly voiced. Swiss Ambassador Erwin Bollinger warned that without meaningful outcomes, the WTO risks losing its credibility and influence. UK Trade Minister Chris Bryant echoed those fears, suggesting that an unsuccessful summit could trigger a disorderly collapse of the institution, prompting countries to draft new trade rules outside the WTO framework — a move that could permanently reshape global trade governance.
Several contentious issues continue to threaten progress, including the future of a long-standing moratorium on customs duties for digital goods. The United States is pushing for a permanent agreement, while India is expected to oppose it, with other nations advocating for a temporary extension. Meanwhile, tensions have been further heightened by the exclusion of Taiwan from the talks after Cameroon referred to it as a province of China, a decision that could spark additional diplomatic fallout alongside the already complex negotiations.
source: Business day