WTO Director-General and Japanese Prime Minister Call for Strengthened Multilateral Trading System

Strategic Insights -

World Trade Organization (WTO) Director-General Ngozi-Okonjo-Iweala and Japanese Prime Minister Shigeru Ishiba issued a joint call on May 13 to reinforce the multilateral trading system and advance meaningful reform of the WTO. The call comes as the global trade landscape faces growing pressures, including rising trade tensions and the risk of fragmentation. The two leaders emphasized the importance of free, open, and predictable trade as a key driver of growth and the need to strengthen the multilateral trading system with the WTO at its core.

Key Takeaways:

  • The Director-General of WTO Ngozi-Okonjo-Iweala and Japanese Prime Minister Shigeru Ishiba issued a joint call on May 13 to strengthen the multilateral trading system and advance meaningful reform of the WTO.
  • The call comes as the global trade landscape faces growing pressures, including rising trade tensions and the risk of fragmentation.
  • The two leaders emphasized the importance of free, open, and predictable trade as a key driver of growth and the need to strengthen the multilateral trading system with the WTO at its core.
  • During her visit to Tokyo, DG Okonjo-Iweala met with Prime Minister Ishiba, Japanese Foreign Affairs Minister Takeshi Iwaya, Minister of Finance Katsunobu Kato, and Minister of Economy, Trade and Industry Yoji Muto to discuss key themes including the growth of trade tensions and the importance of the multilateral trading system.
  • The meeting with the Japanese government officials focused on managing current and future tensions in global trade, strengthening the multilateral trading system, and advancing meaningful reform of the WTO.
  • DG Okonjo-Iweala later traveled to the Republic of Korea to attend a meeting of trade ministers at the Asia-Pacific Economic Cooperation forum in Jeju on May 15-16.

Statistics:

  • On May 13, 2023, WTODG Ngozi-Okonjo-Iweala and Japanese Prime Minister Shigeru Ishiba issued a joint call to strengthen the multilateral trading system and advance meaningful reform of the WTO. [1]
  • 13 May 2023: DG Okonjo-Iweala met with Prime Minister Ishiba, Japanese Foreign Affairs Minister Takeshi Iwaya, Minister of Finance Katsunobu Kato, and Minister of Economy, Trade and Industry Yoji Muto in Tokyo. [1]
  • Free, open, and predictable trade were emphasized as a key driver of growth and reinforced the importance of the multilateral trading system with the WTO at its core. [1]
  • DG Okonjo-Iweala traveled to the Republic of Korea on 15-16 May 2023 to attend a meeting of trade ministers at the Asia-Pacific Economic Cooperation forum in Jeju. [1]

Sources:

  • [1] World Trade Organization (WTO). (13 May). Director-General meets with Japanese Prime Minister and other senior officials. Retrieved from