Published 07:04 IST, February 16th 2021
Nigerian economist Ngozi Okonjo-Iweala becomes WTO's 'first African, Black woman' chief
WTO leader Ngozi Okonjo-Iweala's candidacy, which was blocked by former US President Donald Trump under his “America first” policy, was endorsed by Joe Biden
Nigerian American economist and a former two-time finance minister Ngozi Okonjo-Iweala was appointed as director-general of World Trade Organization (WTO) on Sunday. She is the first African and the first Black woman designated as a Chief to lead the WTO which governs trade and commerce internationally. Okonjo-Iweala is expected to tackle the global economic and health crisis brought by the COVID-19 pandemic across nations, worldwide. ”This is a very significant moment for the WTO," David Walker, the WTO's General Council chair, said in a statement, while the 66-year-old said that she was "honoured" to secure the role. Elected by representatives of the 164 countries as the WTO chief, Okonjo-Iweala stressed that her priority would be to “implement the policy responses we need to get the global economy going again” in her role, according to her first statement as head of WTO, cited by Associated Press.
“Our organization faces a great many challenges but working together we can collectively make the WTO stronger, more agile and better adapted to the realities of today,” the newly appointed WTO leader Okonjo-Iweala said in a statement.
WTO leader Okonjo-Iweala's candidacy, which was blocked by former US President Donald Trump under his “America first” policy, was endorsed by current President of US Joe Biden after he broke the stalemate between the US backed South Korean trade minister Yoo Myung-hee and Okonjo-Iweala. Okonjo-Iweala will take office on March 1, and will elect 4 more deputies. Her tenure will conclude on August 31, 2025. For decades, the new WTO woman chief served as President of World Bank [for 25 years] and held the position of the finance minister in Nigeria. US relation will WTO bittered since Obama presidency after the country vetoed the appointment of new judges to the Appellate Body, world's main court, to resolve complex trade disputes.
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Having experienced Nigeria’s brutal civil war during her teenage days, and her mother held hostage over demands for her stepping down as Nigeria’s finance minister, the first-ever woman chief to WTO says she will bring ‘strength’ to the Switzerland-based institution. “My vision is of a rejuvenated WTO that will be confident to tackle effectively ongoing issues,” the former said at WTO members hearing in July. “It is clear that a rules-based system without a forum in which a breach of the rules can be effectively arbitrated loses credibility over time,” she added in her live-streamed address to the body. Her remarks came following the increased demands by the EU and the US to reform the WTO. The chief presided with a vision of ramping up female participation in global trade.
Updated 07:04 IST, February 16th 2021