Uncertain global trading system

Disagreements in trade negotiations are not new, but differences between rich and poor countries have intensified recently.

The multilateral trading system under the World Trade Organisation (WTO) has been hit by two recent incidents. One, the Covid-19 pandemic has forced the WTO to put on hold its biennial 12th Ministerial Conference which was scheduled for last June. Two, WTO Director-General Roberto Azevêdo stepped down last August, one year before his term ended. As a result, the global trade organisation was left directionless and leaderless amid a crisis of international cooperation. This is the biggest setback the organisation has faced since its inception 25 years ago, and it has cast doubts over the ongoing and much-awaited Doha Round of trade negotiations.