Nigerian economist Okonjo-Iweala to become WTO chief today
The World Trade Organization is set to get its first leader from an African nation on Monday (today).
Senior Nigerian economist, Ngozi Okonjo-Iweala (also the first woman to assume the post), is the only remaining candidate for the troubled organisation in Geneva.
Her appointment as director general at a meeting of envoys from the 164 WTO member countries is considered a mere formality.
The previous United States’ administration of President Donald Trump had blocked the appointment process by opposing Mrs. Okonjo-Iweala.
Mr. Trump’s successor, Joe Biden, last week supported Mrs. Okonjo-Iweala, who previously served as Nigeria’s finance and foreign minister, and as the managing director of the World Bank.
The Nigerian prevailed over other candidates in the months-long WTO leadership race, including South Korean Trade Minister, Yoo Myung Hee, her main rival.
Mrs. Okonjo-Iweala will succeed Brazilian Roberto Azevedo, who left the WTO before the end of his term in August, to join the US beverage giant, Pepsico, as an executive.
The leadership change came as the WTO is in its deepest crisis since it was founded in 1995.
The WTO is no longer able to settle trade disputes between countries as the US blocked appeals judges’ appointment.
The Trump administration sought reforms of the WTO, without clearly spelling out its demands.
Also, free trade talks have been stalled for years, and the WTO now also faces a global economic crisis.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Court adjourns Benue candidates’ suit against APC until August 27
The judge warned that absence of any counsel resulting in a delay of the proceedings would attract sanctions.
Heading 4
Gov. Sani lectures states on how to copy Kaduna’s peace modelÂ
Mr Sani stressed that quality healthcare is not for a privileged few in Kaduna State but ‘’a fundamental right of everyone, particularly the downtrodden.’’
Heading 2
CBN retains benchmark interest rate at 26.5%
The latest decision to maintain the current policy stance followed a thorough assessment of the balance of risks.
Abuja
Two Abuja security guards, one other arraigned over alleged theft iron rods worth N5 millionÂ
The defendants pleaded not guilty to the charge.
States
Kaduna man begs court to compel 27-year-old daughter to get suitor, marry
The defendant said she has no serious suitor.
Abuja
COAS inaugurates 114 housing units for troops in Abuja
Mr Lar said quality accommodation would boost morale, strengthen operational readiness and improve the wellbeing of personnel and their families.
