Dr Ngozi Okonjo-Iweala has made history by becoming the first woman and first African to lead the World Trade Organization (WTO), from 1 March 2021.
Commenting on her new role, Dr Okonjo-Iweala, stated: “I am honoured to have been selected by WTO members as WTO Director-General. “A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic. I look forward to working with members to shape and implement the policy responses we need to get the global economy going again. Our organisation 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.”
In her acceptance speech, she commented that for the first time in the 73 years of GATT and WTO, a woman and an African has been selected as Director-General. “This is groundbreaking and positive,” she noted. “I am grateful for the trust you have in me, not just as a woman and an African, but also in my knowledge, experience; and, as some of you have said, possessing the courage and passion to work with you to undertake the wide ranging reforms the WTO needs to reposition itself for the future.”
FORCE FOR FAIRNESS
Dr Okonjo-Iweala said a key priority for her would be to work with members to quickly address the economic and health consequences brought about by the Covid-19 pandemic. She added that the WTO can count on her “to be proactive, to work hard, to be balanced, fair, professional, and objective”. “That way, together, we can restore and rebrand the WTO as a key pillar of global economic governance, a force for a strong, transparent, and fair multilateral trading system, and an instrument for inclusive economic growth and sustainable development,” she explained.
The process for selecting a new Director-General was triggered on 14 May when former Director-General Mr Roberto Azevêdo informed WTO members he would be stepping down from his post one year before the expiry of his mandate. He subsequently left office on 31 August. According to General Council Chair David Walker of New Zealand, who together with co-facilitators Amb. Dacio Castillo (Honduras) and Amb. Harald Aspelund (Iceland) led the nine-month DG selection process, “based on consultations with all delegations Dr Okonjo-Iweala was best poised to attain consensus of the 164 WTO members”. “She had the deepest and the broadest support among the membership,” he added.
But the US Trump administration blocked her appointment since October 2020. That created months of uncertainty as the US threw its support behind Trade Minister Yoo Myung-hee of the Republic of Korea instead. But following Myung-hee’s decision on 5 February to withdraw her candidacy, the administration of newly-elected US President Joseph Biden dropped the US objection and announced that Washington extends its “strong support” to the candidacy of Dr Okonjo-Iweala.
NIGERIAN ‘JOY & HONOUR’
Commenting on the appointment, General Council Chair David Walker of New Zealand stated: “This is a very significant moment for the WTO. On behalf of the General Council, I extend our warmest congratulations to Dr Ngozi Okonjo-Iweala on her appointment as the WTO’s next Director-General and formally welcome her to this General Council meeting. Dr Ngozi, on behalf of all members I wish to sincerely thank you for your graciousness in these exceptional months, and for your patience. We look forward to collaborating closely with you, Dr Ngozi, and I am certain that all members will work with you constructively during your tenure as Director-General to shape the future of this organisation.”
Dr Okonjo-Iweala, a Nigerian economist, is a 25-year veteran of the World Bank. She rose to the second highest position there, advocating for economic growth in poorer countries; and helped to oversee $81 billion in development financing for Africa, South Asia, Europe and Central Asia. She has also served as Nigeria’s finance minister; and helped to broker a deal back in 2005 to help cancel billions of dollars of Nigerian debt. She has a bachelor’s degree in economics from Harvard University and a PhD in regional economics and development from the Massachusetts Institute of Technology.
Commenting on the role, Nigerian President Muhammadu Buhari stated that the decision to appoint Dr Okonjo-Iweala to head the WTO “brought more joy and honour to the country”.
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