Nigeria : Nigerian woman poised to lead WTO after South Korean rival withdraws
on 2021/2/7 12:20:00
Nigeria

Click to see original Image in a new window
Nigeria’s Ngozi Okonjo-Iweala was poised to become the first African and first woman to lead the embattled World Trade Organization, after a South Korean rival withdrew on Friday and the United States reversed its previous opposition.

The government of President Joe Biden expressed its strong support for Okonjo-Iweala in a statement late Friday, lauding her experience at the World Bank and leading Nigeria’s Finance Ministry, and pledging to work with her on needed reforms.

The twin developments ended months of uncertainty over the leadership of the global trade body, and cleared the way for WTO members to conclude a consensus-based process and confirm Okonjo-Iweala as the next WTO director-general.

The U.S. administration of former President Donald Trump had blocked Okonjo-Iweala’s candidacy after a WTO selection panel recommended her as chief in October. The decision required consensus.

Okonjo-Iweala said she was looking forward to the conclusion of the race and moving forward with needed reforms.

“There is vital work ahead to do together,” the former World Bank executive said in a statement.

The U.S. Trade Representative’s office said it was ready to get to work with Okonjo-Iweala, noting she was “widely respected for her effective leadership and … proven experience managing a large international organization with a diverse membership.”

“The Biden Administration looks forward to working with a new WTO Director General to find paths forward to achieve necessary substantive and procedural reform of the WTO,” it said. Last week it also pledged a commitment to “positive, constructive and active engagement” on reforms.

The Geneva-based watchdog has gone without a director-general since Brazil’s Roberto Azevedo quit a year early in August and his replacement must contend with a COVID-induced recession, U.S.-China tensions and rising protectionism.

South Korea’s trade minister, Yoo Myung-hee, a finalist selected from among eight candidates, on Friday withdrew her name after months of diplomatic pressure to bow out.

“In order to promote the functions of WTO and in consideration of various factors, I have decided to withdraw my candidacy,” Yoo said in a statement. She said her decision was made after consulting with allies including the United States.

Observers say the leaderless WTO is facing the deepest crisis in its 25-year history. It has not clinched a major multilateral trade deal in years and failed to hit a 2020 deadline on ending subsidies for overfishing.

Many hope the change in the U.S. administration will lead to meaningful reforms of the WTO. Some of its functions are paralyzed after the Trump administration blocked judge appointments to its top appeals body.

Okonjo-Iweala has previously stressed the need for the WTO to play a role in helping poorer countries with COVID-19 drugs and vaccines — an issue on which members have failed to agree in ongoing negotiations.

The WTO could in theory call a meeting of its 164 members to confirm the next chief at short notice.

However, some delegates saw that as unlikely given that Biden’s choice of trade representative, Katherine Tai, has not yet been sworn in. Nor has a Geneva-based deputy been selected.

The International Chamber of Commerce’s John Denton urged WTO members to act quickly.

“With geopolitical tensions high, the global economy in recession and ‘vaccine nationalism’ threatening an equitable recovery, there is now no reason for further delay in filling this critical role with the well-qualified candidate at the ready,” he said.

Previous article - Next article Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2023/7/22 16:36:35 - Uncertainty looms as negotiations on the US-Kenya trade agreement proceeds without a timetable
2023/7/22 14:48:23 - 40 More Countries Want to Join BRICS, Says South Africa
2023/7/18 14:25:04 - South Africa’s Putin problem just got a lot more messy
2023/7/18 14:17:58 - Too Much Noise Over Russia’s Influence In Africa – OpEd
2023/7/18 12:15:08 - Lagos now most expensive state in Nigeria
2023/7/18 11:43:40 - Nigeria Customs Intercepts Arms, Ammunition From US
2023/7/17 17:07:56 - Minister Eli Cohen: Nairobi visit has regional and strategic importance
2023/7/17 17:01:56 - Ruto Outlines Roadmap for Africa to Rival First World Countries
2023/7/17 16:47:30 - African heads of state arrive in Kenya for key meeting
2023/7/12 16:51:54 - Kenya, Iran sign five MoUs as Ruto rolls out red carpet for Raisi
2023/7/12 16:46:35 - Ambassador-at-Large for Global Women’s Issues Gupta Travels to Kenya and Rwanda
2023/7/2 15:57:52 - We Will Protect Water Catchments
2023/7/2 15:53:49 - Kenya records slight improvement in global peace ranking
2023/7/2 14:33:37 - South Sudan, South Africa forge joint efforts for peace in Sudan
2023/7/2 13:08:02 - Tinubu Ready To Assume Leadership Role In Africa
2023/7/2 11:50:34 - CDP ranks Nigeria, others low in zero-emission race
2023/6/19 16:30:00 - South Africa's Ramaphosa tells Putin Ukraine war must end
2023/6/17 16:30:20 - World Bank approves Sh45bn for Kenya Urban Programme
2023/6/17 16:25:47 - Sudan's military govt rejects Kenyan President Ruto as chief peace negotiatorThe Sudanese military government of Abdel Fattah al-Burhan has rejected Kenyan President William Ruto's leadership of the "Troika on Sudan."
2023/6/17 16:21:15 - Kenya Sells Record 2.2m Tonnes of Carbon Credits to Saudi Firms

The comments are owned by the author. We aren't responsible for their content.