‘Not in dreamland’: WTO aims for modest outcomes at Abu Dhabi meeting

Trade ministers from nearly every country in the world gather in Abu Dhabi on Monday for a World Trade Organization meeting that aims to set new global commerce rules, but even its ambitious chief Ngozi Okonjo-Iweala has sought to curb expectations. The almost 30-year-old global watchdog, whose rules underpin 75% of global commerce, tries to strike deals by consensus, but such efforts are becoming more and more difficult as signs grow that the global economy is fragmenting into separate blocs. “Politically it’s quite a tough time,” Ngozi Okonjo-Iweala told reporters before the meeting, referring to wars, tensions and upcoming elections.