The World Trade Organization has elected the first woman and the first African to lead the organization. It’s a historic move.
Ngozi Okonjo-Iweala, a 66-year-old Nigerian economist, was appointed director general Monday by representatives of the WTO’s 164 member countries.
Speaking at an online news conference Monday (Feb. 15 ), Okonjo-Iweala said she was eager to begin the work of reforming the WTO and modernizing its rules to address the problems of the 21st century.
“I thank you for your confidence not only in me as a woman and an African, but in my knowledge and experience and, as some of you have said, in the courage and enthusiasm to work with you on the broad reforms that the WTO needs to reposition itself for the future,” she said.
Okonjo-Iweala said one of her key priorities is to focus on the New Coronas Vaccine Access Facility (COVAX) and a global collaborative facility to accelerate the development, production and equitable access to new coronas tests, treatments and vaccines to accelerate the delivery and supply of vaccines to poor countries.
She said: “We also encourage finding what I call the third way, which is to produce vaccines in more countries, while being careful that we don’t impede research and innovation related to intellectual property. So, that’s an area that needs to be worked on.”
Her selection to head the WTO came after months on hold due to former U.S. President Donald Trump‘s lack of support for Okonjo-Iweala, saying she lacked direct trade experience compared to other candidates.
The Biden administration dropped the U.S. opposition, clearing the way for Okonjo-Iweala to get the top job at the body.
The Nigerian economist served 25 years at the World Bank, where she pushed to promote economic growth in poorer countries. She rose to become the Bank’s No. 2 leader and, through that position, helped oversee $81 billion in development financing for Africa, South Asia, Europe and Central Asia.
In 2012, she ran unsuccessfully for the presidency of the Bank. Her candidacy challenged the World Bank’s tradition of having an American president.
Okonjo-Iweala also served as Nigeria’s finance minister and helped broker an agreement in 2015 to cancel billions of dollars of Nigeria’s debt to creditor countries in the Paris Club.
She received a bachelor’s degree in economics from Harvard University and a Ph.D. in regional economics and development from the Massachusetts Institute of Technology.
Nigerian President Muhammadu Buhari said Okonjo-Iweala’s election to lead the WTO has brought “more joy and honor to the country.
Okonjo-Iweala said Monday that the WTO faces numerous and difficult challenges, but they are not insurmountable.
In addition to dealing with the economic challenges surrounding the New coronavirus outbreak, the new WTO director general must confront long-standing trade issues that have divided many countries, including the trade conflict between the United States and China. She is also under pressure to reform trade rules.
Recent Comments