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The Interview

Dr Ngozi Okonjo-Iweala, head of the WTO: What is going on in the Middle East will have a significant impact on trade

The Interview

BBC

News, Politics, Government

4.3537 Ratings

🗓️ 27 March 2026

⏱️ 23 minutes

🧾️ Download transcript

Summary

“The global economy is full of uncertainty… business doesn't do that well with uncertainty. So with respect to trade… what is going on in the Middle East will have a significant impact on trade” Ben Thompson speaks to Dr Ngozi Okonjo-Iweala Director General of the World Trade Organisation. The global trade system - embodied by the WTO - is supposed to bring countries together by setting and enforcing the rules for them to sell goods and services to each other as well as resolve trade disputes. This week in Cameroon a WTO ministerial Conference is taking place against the backdrop of war in the Middle East and unprecedented challenges to the established world trading system. The war, President Trump's tariffs and a growing urge for independence are all impacting the way goods and services flow across borders. In this interview Dr Okonjo-Iweala discusses the restrictions coming into force and their impact on global trade. She also talks about the need to reform the trading system so it works better for all parties. The Interview brings you conversations with people shaping our world, from all over the world. The best interviews from the BBC, including episodes with Samantha Power, former US ambassador to the UN and Dame Sarah Mullally, the archbishop of Canterbury. You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts. Presenter: Ben Thompson Producers: Jonathan Josephs, Clare Williamson Editor: Damon Rose Get in touch with us on email TheInterview@bbc.co.uk and use the hashtag #TheInterviewBBC on social media.

(Image: Dr Ngozi Okonjo-Iweala Credit: PIERRE ALBOUY/AFP via Getty Images)

Transcript

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0:00.0

BBC Sounds, Music, Radio, podcasts.

0:05.7

Hello, I'm Ben Thompson, BBC business presenter, and this is The Interview from the BBC World

0:12.3

Service, the best conversations coming out of the BBC, people shipping our world from all over the world.

0:20.8

If you're not a little bit afraid, then you're not paying a... shipping our world from all over the world.

0:25.2

If you're not a little bit afraid, then you're not paying attention.

0:28.7

We have never seen a people so united.

0:31.5

Do not make that boat crossing. Do not make that journey.

0:35.7

Being born in America, feeling American, having people treat me like I'm not.

0:37.8

We're more popular than populism.

0:45.1

For this interview, I met Dr. Ngozi-Econjo Iweiler of the World Trade Organization,

0:49.8

on the line from its headquarters overlooking the waters of Lake Geneva.

0:55.2

The global trade system, embodied by the WTO, is supposed to bring countries together by setting and enforcing the rules for them to sell goods and services to each other,

1:01.3

as well as to resolve trade disputes.

1:03.9

But its powers have been challenged in recent years,

1:06.8

and there are huge differences between nations on trade.

1:10.1

The tariffs and bilateral deals pursued by the US administration

1:14.1

have shaken the global economy and the structure of the trade body itself.

1:19.9

China's huge trade surplus, exporting way more than it imports,

1:23.7

and a rise in economic nationalism,

1:26.6

have led many to question the benefits of the organisation,

1:30.0

whilst others want to see reform. The European Union is also often at odds with the US and China.

1:37.6

These difficulties for global trade were causing enough problems before the latest war in the Middle East

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