WTO: 106 Countries Back Okonjo-Iweala

The 27 European Union member states have backed Nigeria’s former finance minister, Dr Ngozi Okonjo-Iweala, in her bid to become the first African and first female director-general of the World Trade Organisation (WTO).
The EU member states are France, Germany, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.
The latest support for Okonjo-Iweala’s candidacy brings the number of countries officially endorsing her to 106 out of the 164 states that comprise the WTO.
The 55-member African Union had earlier officially supported the former World Bank director over her sole remaining opponent, Yoo Myung-hee of South Korea.
Okonjo-Iweala had also won the goodwill of a group of Caribbean and Pacific States as well as others from Asia.
Earlier, the European Parliament had endorsed Okonjo-Iweala to head the WTO, saying she was well-equipped to do the job.
The Parliament had subsequently written the EU to support the Nigerian candidate.
The WTO’s consultation process ended, yesterday, and the new leader is expected to be named in November but an EU official said that the EU would publicly announce its support for the 66-year-old economist, according to AFP.
The final winner between the two women would replace Brazil’s Roberto Azevedo and former director-general of the 25-year-old global trade organisation.
The initial pool of eight candidates for the WTO’s top post, which has been whittled down over two rounds of consultations, had included three Africans – Nigeria, Egypt and Kenya.
The third and final round of consultations seeking to establish consensus around one candidate, ended, yesterday, with the announcement due in early November.
If Okonjo-Iweala is confirmed, she would join the WTO at a difficult time, with the world facing a deep post-Coronavirus recession and a crisis of confidence in free trade and globalisation.
A trade war is brewing between the world’s anchor economies – the United States and China – and the European Union would see G7 member, Britain, leave its single market at the end of the year.
The US President, Donald Trump, faces a tough battle for re-election on November 3, but under his leadership, Washington’s relationship with the WTO has suffered.
His administration has appealed a WTO ruling that faulted US duties imposed on hundreds of billions of dollars in Chinese goods.
Usually, the WTO Appellate Body would have three months to rule on any appeals filed.
But that process has been complicated since the WTO Appellate Body – also known as the supreme court of world trade – stopped functioning last December as the US blocked the appointment of new judges to the panel.

Print Friendly, PDF & Email


See also  Gunmen assassinate retired DIG's wife, Aghanya in Benue

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more