At pre-MC14 business forum: WTO Director General labels Yaounde confab turning point for global trade.

The Director General made the remarks on March 25, in Yaounde during a high-level business forum jointly organised by WTO and the International Chamber of Commerce, ICC. The event brought together government officials and private sector leaders on the eve of the ministerial conference.

Addressing participants, Okonjo-Iweala highlighted the continued resilience of global trade despite mounting geopolitical tensions and policy disruptions.

“Global trade has been remarkably resilient. And the WTO, as I always say, battered, bruised but not broken, has been an important enabler of this resilience, which has helped cushion the blow for businesses around the world,” she said.

According to the WTO boss, merchandise trade volumes expanded by 4.6% last year, driven by front-loaded imports and strong demand for Artificial Intelligence-related goods. However, she cautioned that growth could slow to 1.9% this year, with risks of further decline if global conflicts persist.

She stressed that multilateral rules remain central to global commerce as about 72% of global goods trade still continues to cross borders on WTO terms, providing businesses with predictability in tariffs, regulations and supply chains.

The WTO chief warned that while the system has shown resilience, it faces growing strain from unilateral actions, geopolitical tensions and outdated rules.

“The system must evolve,” she said, calling for “ambitious reform” to address gaps in the rulebook, particularly in emerging areas such as digital trade, and to ensure the organisation remains relevant.

She urged businesses to press their governments and ministerial delegations to pursue substantive reform at MC14, singling out the extension of the e-commerce moratorium as a priority.

“Yaounde could launch the next chapter of the multilateral trading system, but we'll need your help as the business community to get it done," she said.

Trade minister presents Africa as investment frontier 

The Minister of Trade and Chair of MC14, Luc Magloire Mbarga Atangana, used the forum to advocate increased private sector investment in Africa. 

While welcoming participants to the country, he showcased the continent as a major growth frontier with a vast and underutilised market, pointing to its population of over 1.3 billion people and its position as one of the largest emerging trading spaces globally.

Pointing at a 2024 WTO report, the minister noted that Africa accounts for 16 per cent of the world's population but generates just 2.9 per cent of global trade, a gap he framed not as a handicap but as an investment opportunity.

Minister Mbarga Atangana explained that with Africa's population projected to nearly double to 2.5 billion by 2050, he urged the private sector to act before the window narrows.

Highlighting Cameroon’s own potential, the minister cited its diverse agro-ecological zones and vast arable land, reaffirming the country’s commitment to private sector-led economic transformation.

ICC pushes private sector-led development 

ICC Secretary General, John Denton, argued that with the development assistance model having broken down, Africa’s development hinges on enabling a thriving private sector.

“The only opportunity Africa has to develop is by encouraging an environment where the private sector can flourish,” he said.

While calling for closer collaboration between governments and businesses to remove barriers to enterprise, Denton noted that improving the operating environment would drive economic activity and job creation across the continent.

Business community demands action 

Speakers from the private sector called for a shift from policy discussions to implementation, particularly in simplifying trade procedures and reducing costs.

Representing African industrial interests, Aigboje Aig-Imoukhuede, speaking on behalf of Aliko Dangote, explained that African businesses are ready to play a greater role in shaping global trade. He positioned African businesses as contributors and partners rather than passive participants.

Entrepreneur Rebecca Enonchong stressed the importance of simplifying procedures, reducing costs and ensuring that businesses are actively involved in decision-making processes. According to her, many trade agreements have yet to translate into tangible benefits on the ground.

"We are tired of all these ministers, all these officials, hiding behind agreements to say that they've done something. Until we see the reality on the ground, for me, it's just paper," she said.

This article was first published in The Guardian Post Edition No:3742 of Thursday March 26, 2026