WTO’s Ngozi: trade resilient, can help power coronavirus recovery

World Trade Organization issues annual trade growth forecast
Director-General of the World Trade Organisation Ngozi Okonjo-Iweala attends a press conference remotely on the annual global WTO trade forecast at the headquarters of the World Trade Organization (WTO) in Geneva, Switzerland March 31, 2021. Salvatore Di Nolfi/Pool via Reuters

April 8, 2021

WASHINGTON (Reuters) – World Trade Organization Director General Ngozi Okonjo-Iweala said on Thursday that trade has been more resilient than expected during the coronavirus pandemic and is forecast to grow 8% this year, helping to support a recovery in economic growth.

“Trade, we hope, can contribute more,” Ngozi told an economic forum during the International Monetary Fund and World Bank meetings.

“First, by making vaccines, more available, by lowering export restrictions, working with manufacturers to offer volumes and getting more of the vaccines around the world. And secondly, I think a strong multilateral trading system can contribute so much to the international recovery.”

(Reporting by David Lawder and Daniel Burns)