World Economic Forum: What the future holds for world trade, according to 8 global leaders

Source: World Economic Forum

  • Her appointment comes amid uncertainty surrounding the economic impact of COVID-19 variants.
  • The international trade system was under the microscope at the World Economic Forum’s Davos Agenda week.
  • Here are eight key quotes from world leaders and experts on how to make the system more sustainable and resilient.

Ngozi Okonjo-Iweala has made history – becoming the first woman and the first African ever to hold the post of director-general of the World Trade Organization.

The former minister of finance in Nigeria was a development economist at the World Bank for 25 years, and chaired the board of Gavi, the Vaccine Alliance, which co-leads the COVAX facility to ensure equitable access to COVID-19 vaccines.

Her appointment comes after a year that has rocked international trade. In October, the WTO forecast a 9.2% decline in the volume of world merchandise trade for 2020, with a 7.2% rise in 2021. But it warned the estimates were “subject to an unusually high degree of uncertainty” as they depended on government measures to control the pandemic.

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