Transcript my vision for the wto by ngozi okonjo iweala

Here is a transcript of Ngozi Okonjo-Iweala's vision for the World Trade Organization (WTO) as the Director-General:

Opening Remarks

"Thank you, esteemed members of the WTO, for this historic opportunity to lead this organization. I am honored to be the first woman and the first African to hold this position. As we gather today, the world is facing unprecedented challenges, from the COVID-19 pandemic to climate change, and from rising inequality to economic uncertainty. In this context, the WTO's role is more critical than ever.

A New Era for the WTO

"My vision for the WTO is to usher in a new era of cooperation, inclusivity, and innovation. We must recognize that the world has changed significantly since the WTO was established in 1995. New players have emerged, new technologies have transformed the way we live and work, and new challenges have arisen. We must adapt to these changes and seize the opportunities they present.

Priorities

"My priorities as Director-General will be guided by three core principles: first, to promote a more inclusive and equitable trading system; second, to foster a more predictable and stable trading environment; and third, to drive innovation and competitiveness in the global economy.

Inclusive and Equitable Trading System

"To achieve a more inclusive and equitable trading system, we must address the concerns of developing countries, particularly the least developed countries, and ensure that they have a greater voice in the WTO. We must also work to reduce trade barriers and promote fair trade practices, including through the elimination of tariffs and non-tariff barriers.

Predictable and Stable Trading Environment

"To foster a more predictable and stable trading environment, we must strengthen the WTO's dispute settlement system, improve transparency and predictability in trade policies, and enhance cooperation among members to address emerging issues such as e-commerce and digital trade.

Innovation and Competitiveness

"To drive innovation and competitiveness in the global economy, we must promote trade in services, including digital services, and support the development of new industries and technologies. We must also work to reduce trade costs and improve supply chain efficiency, and promote sustainable and responsible trade practices.

Implementation

"To achieve these goals, we will work closely with member states, the private sector, and civil society to develop and implement effective policies and programs. We will also engage in active diplomacy to build consensus and resolve disputes, and work to strengthen the WTO's institutional capacity and resources.

Conclusion

"In conclusion, my vision for the WTO is to create a more inclusive, predictable, and innovative trading system that benefits all members, particularly the most vulnerable and disadvantaged. I am committed to working tirelessly to achieve this vision, and I look forward to collaborating with all of you to build a brighter future for the WTO and for the world."