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Report: EU backs Okonjo-Iweala to lead the WTO

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Report: EU backs Okonjo-Iweala to lead the WTO

Report: EU backs Okonjo-Iweala to lead the WTO

The European Union (EU) has concluded its decision to support Nigeria’s candidate, Ngozi Okonjo-Iweala for the role of the Trade Organisation (WTO) director-general.

According to Reuters, an EU official was quoted saying the decision is a strong signal to reinforce the multilateral order and a sign of mutual trust between the bloc and Africa.

Recall that Okonjo- Iweala and Yoo Myung-hee, South Korea’s candidate had previously been the EU’s two most preferred candidates in the selection process that began on September 7 when member countries started indicating their preferred candidates.

The European Parliament, the legislative branch of the EU, had also endorsed Okonjo-Iweala, saying her “political approach is needed” to resolve the WTO’s challenges and deal disagreements between its members.

The trade organisation faces dual challenges; criticism from US President Donald Trump’s administration which froze its appeals body by blocking its appointment of judges, and worsening US-China trade relations.

It is expected that the next WTO DG will be announced on November 7.

Okonjo-Iweala and Myung-hee, are vying to be the first female leader in the WTO’s 25-year history, replacing Brazilian Roberto Azevedo, who stepped down in August; a year before his tenure.

Okonjo-Iweala is a former managing director of the World Bank and two-time minister of finance in Nigeria.

She currently chairs the Global Alliance for Vaccines and Immunization (GAVI) backed by the Bill Gates Foundation.

The post Report: EU backs Okonjo-Iweala to lead the WTO appeared first on Within Nigeria.





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