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WTO - U.S President Joe Biden Endorses Okonjo Iweala

 

The U.S President and his administration on Friday gave their vote of confidence to Nigeria’s Ngozi Okonjo Iweala to lead the World Trade Organisation - WTO, clearing a path for her to become the organization’s first female and first African leader.

The U.S President and his administration on Friday gave their vote of confidence to Nigeria’s Ngozi Okonjo Iweala to lead the World Trade Organisation - WTO, clearing a path for her to become the organization’s first female and first African leader.

The move marks another sharp split with former president Donald Trump who paralyzed the organisation and opposed the candidacy of the former Nigerian finance minister who was backed by many other countries.

The US Trade Representative in a statement cited her “wealth

of knowledge in economics and international diplomacy” and said she had “proven experience managing a large international organization”.

Also, USTR noted that South Korea’s trade minister, whom the Trump administration supported had abandoned her bid to head the WTO earlier Friday.

Yoo Myung-hee consulted with the United States her primary backer and other major countries and “decided to renounce her candidacy,” South Korea’s trade ministry said in a statement.

The process to name a successor for Roberto Azevedo, who stepped down last August, has been deadlocked for months.

Meanwhile, Key WTO ambassadors tapped Okonjo-Iweala back in October as the best pick to lead the organisation, but without US support the process was left at a standstill since the director-general is normally chosen by consensus among all 164 member states.

“The United States stands ready to engage in the next phase of the WTO process for reaching a consensus decision on the WTO Director-General,” USTR said.

“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.”

Keith Rockwell a WTO spokesman, told AFP the next regular meeting of the organisation’s General Council, where the leadership issue could be discussed, was not until March 1.

But, he stressed, “another could be called on short notice,” since the last meeting in October had been suspended amid the deadlock.

A European diplomat hailed Yoo’s decision to drop out of the race. “We salute the spirit of responsibility in this decision. This is good news for multilateralism,” he told AFP.

“Now nothing stands in the way of members rapidly approving the Nigerian candidate, Doctor Ngozi Okonjo-Iweala, who won the selection process.”

If she does get the nod, Okonjo-Iweala would become the first woman and also the first African to lead the WTO.

The crisis-wracked organisation is widely seen as being in need of reform.

Even before the Covid-19 pandemic, it had grappled with stalled trade talks and struggled to curb tensions between the United States and China.

The global trade body also faced relentless attacks from Washington under Trump, which crippled its dispute settlement appeal system. And the previous US leader had threatened to leave the organisation altogether.

She spent a quarter of a century at the World Bank, rising to be managing director and running for the top role in 2012, and is seen as a trailblazer in her home country.

Twice Nigeria’s finance minister and its first woman foreign minister, Okonjo-Iweala, 66, trained as a development economist. She also has degrees from Massachusetts Institute of Technology - MIT and Harvard.

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