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WASHINGTON – The World Trade Organization officially chose Ngozi Okonjo-Iweala, a Nigerian economist and former finance minister, to be its next leader on Monday. The first woman and the first African to hold the post of Managing Director, Dr Okonjo-Iweala will assume the post on March 1 for a renewable term expiring on August 31, 2025.
Dr Okonjo-Iweala said in a statement that she was honored to have been selected and would work with member countries of the organization to address health challenges caused by the pandemic and “revive the global economy. “.
“A strong WTO is vital if we are to fully and quickly recover from the devastation caused by the Covid-19 pandemic,” said Dr Okonjo-Iweala. “Our organization faces many challenges, but by working together we can collectively make the WTO stronger, more agile and better suited to today’s realities.”
Mr. Okonjo-Iweala takes the helm of the WTO at a particularly difficult time for the world trade body, which was established in 1995 to help settle trade disputes, draft new trade rules and encourage the movement of goods and services around the world.
The organization’s many critics say it has failed on several of these fronts, including failing to advance new trade negotiations and adequately monitoring China’s unfair economic behavior. In a time of growing global protectionism and deep uncertainty for the global economy caused by the pandemic, the organization’s dispute resolution system also remains crippled after challenges from the Trump administration.
In a thank-you speech delivered via video link to a mostly empty meeting room at WTO headquarters on Lake Geneva in Switzerland, Ms Okonjo-Iweala acknowledged these challenges, but took a hopeful note on the how his leadership could help build a stronger, more relevant and more relevant organization. more inclusive trading system.
“It has been a long and difficult road, full of uncertainty, but now it is the dawn of a new day and the real work can begin,” she said. “The challenges the WTO faces are many and delicate, but they are not insurmountable.”
In a press conference with reporters on Monday, Ms Okonjo-Iweala said her initial priorities would include working with other international organizations to create lasting rules to respond to pandemics and make progress in two subsidy negotiations. to fishing and digital commerce.
The WTO General Council, which includes representatives from all 164 member countries of the group, agreed in a meeting on Monday that Okonjo-Iweala should be the next director-general. As with many of its other decisions, the organization was required to reach consensus on the nomination, which meant that no member country could object to this choice.
The organization’s former chief executive, Roberto Azevêdo of Brazil, left his post in August after announcing in May that he would be leaving a year earlier. WTO members then considered eight candidates for the post.
In October, most countries announced their support for Dr Okonjo-Iweala. But Trump administration officials continued to express support for South Korea’s Trade Minister Yoo Myung-hee, saying they believed she had more business experience, a dead end that left the organization without a leader for several months.
After the Biden administration took office, Ms. Yoo dropped her candidacy and the United States announced its support for Dr. Okonjo-Iweala.
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