Excitement as Ngozi Okonjo-Iweala Is Set to Be WTO DG, One of two Standing

There is excitement in Nigeria and indeed among women worldwide as Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala is set to be the World Trade Organisation (WTO) DG.

Indeed, for the first time in the history of the world body, a woman will mount the saddle as she reaches the final stage with Yoo Myung-hee of South Korea. A source close to AFP revealed the latest development.

The official announcement of both women is expected later today, 8th of October.

Eight candidates had applied to replace Roberto Azevedo who stepped down as WTO DG in August 2019, one year ahead of schedule.

The number was trimmed down to 5 in September. However, after all member states confidentially voiced their preferences, Liam Fox of Britain, Mohammed Al-Tuwaijri of Saudi Arabia and Amina Muhamed of Kenya were dropped.

Among the initial eight were Jesus Saede Kuri of Mexico, Tudo Ulianovschi of Moldova and Abdel Hamid Mamdouh of Egypt.

The third and final round of consultations will commence later in October and run till November 6 when the WTO will reach a consensus on the next DG.

66-year old Okonjo-Iweala is a development economist with a 25-year track record in the World Bank where she rose to become number two.

She is also, among many other positions, on the board of Twitter as well as a special envoy for the World Health Organisation’s fight against #COVID19.

When and if she scales the final round, she will be the first African and the first woman to lead the World Trade Organisation.

53-year-old Yoo Myung-hee is South Korea’s current Trade Minister after a career in trade diplomacy and foreign affairs.

The successful candidate has the task of steering the WTO out of its multiple crisis and helping member countries navigate a severe global economic downturn brought on by the covid19 pandemic.

The organisation was already in dire straits with stalled trade talks and struggling to curb tensions between the United States and China.

The situation is also made worse with attacks from Washington and threat by the US to leave the organisation completely. The situations have put the WTO dispute resolution system in disarray.

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Excitement as Ngozi Okonjo-Iweala Is Set to Be WTO DG, One of two Standing