Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), has said the global body is often taken for granted despite being fundamental to the smooth functioning of international trade.
Gatekeepers News reports that speaking at the Fortune Global Forum on Monday, Okonjo-Iweala compared the WTO to “plumbing,” saying people rarely notice its importance until there is a breakdown in the system.
“The WTO is one of those organisations that has the rules that make world trade work, but it’s like your plumbing — you don’t think of it until a pipe breaks,” she said. “Everybody takes the WTO and world trade rules for granted. But if the organisation were not there with these basic rules, there would be chaos for those who trade — businessmen and women alike.”
The WTO chief noted that the institution’s influence goes far beyond tariffs, encompassing key areas such as customs valuation, trade agreements, and intellectual property (IP) rights.
Highlighting the growing value of intellectual property in global trade, Okonjo-Iweala said that in 2024, more than $500 billion was earned globally from payments for patents and IP.
She explained that of that amount, $144 billion went to the United States, about a quarter to the European Union, with the remainder shared across other regions — evidence, she said, of how vital WTO rules are in supporting innovation and fair trade practices.
Reflecting on her historic appointment as the first woman and first African to lead the organisation, Okonjo-Iweala said she feels both proud and humbled, but stressed that competence should remain the most important criterion for leadership.
“What matters most is having the right person for the job,” she said, adding that capable women have long been underrepresented in such global leadership roles.
