The Director-General of the World Trade Organization, Ngozi Okonjo-Iveala, warned that the prolonged disruption of navigation in the Strait of Ormuz could be the most serious threat to world trade over the years, as she said in the fields of the WTO Public Forum in Geneva.
Global trade remains resilient, but prolonged blockades, bottlenecks could drive up prices, while failure to modernize trade rules risks 10% of potential growth, WTO chief warns