World Trade Organisation(WTO) head warns that the multilateral trade system is heading into the red. World Trade Organisation(WTO) head warns that the multilateral trade system is heading into the red. Addressing journalists at a workshop organised by the Friedrich Ebert Stiftung (FES) – a German non-profit organisation – at the WTO head office in Geneva, Switzerland, the Director General said multilateral trade talks were in a poor state.
“We have not been obtaining the kind of results we should,” said WTO Director General, Supachai Panitchpakdi briefing journalists on progress of international trade talks.
Trade representatives, from 148 countries, have had their noses to the grindstone for months.
But with 148 different countries, with totally different needs, pushing the multilateral-trade-trolley in different directions, it hasn’t moved far since a general consensus in July last year.
The outgoing head of the world trade body didn’t soft peddle the situation.
“I am an optimistic person by nature, but I have gone to many meetings and have begun to tone down my level of opt