Business
WORLD Trade Organisation (WTO) members agreed on Monday to hold the next ministerial conference in Cameroon in early 2026, it said in a statement.
The WTO holds such conferences every two years where trade ministers from around the globe gather to try to reach deals to set or update new trade rules.
The statement indicated that Cameroon’s ambassador Salomon Eheth told a WTO meeting in Geneva he hoped the event scheduled from March 26 to 29, 2026 would be an opportunity to show the world the potential of Cameroon and Africa for investment and sustainable development.
Analysts expect the road ahead for the three-decade-old WTO will be challenging, likely characterised by trade wars with U.S. President-elect Donald Trump, who returns to the White House on Jan. 20.
The organisation has struggled to conclude negotiations in recent months, and its last meeting in Abu Dhabi in February achieved only minimal results in negotiations where all 166 of the body’s members must agree by consensus.
WTO Director-General Ngozi Okonjo-Iweala, who was re-appointed in November for a second term, said in a Geneva meeting last week that negotiators needed a fresh approach to negotiations in order to break the current deadlock.
“We must focus on delivering outcomes wherever and whenever possible,” the former Nigerian finance minister said.
“Negotiating in the 2020s requires a more dynamic approach, one where each area is considered on its own merits, allowing us to make progress across the board,” she added. (Reuters/NAN)
A.I
Dec. 16, 2024
Tags: World Trade Organisation
