The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, has said the growing erosion of trust among nations poses one of the biggest threats to global trade, investment and economic stability.
She said the rising mistrust was creating uncertainty that was hurting businesses worldwide.
According to a statement on Friday, the WTO Director-General stated this during a fireside conversation at the 20th anniversary of commercial law firm Streamsowers & Köhn in Lagos on Thursday.
The former Nigerian Minister of Finance said countries that once regarded one another as reliable partners were increasingly questioning each other’s intentions, leading to conflict, missed opportunities and a fragmented global economy.
Okonjo-Iweala, however, expressed optimism that global cooperation would ultimately prevail, noting that no country, regardless of its influence, could tackle today’s complex global challenges alone.
She said, “The single biggest issue—the trust of countries in the world in each other has deteriorated because countries
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