The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, is pursuing a second four-year term in her leadership role.
Naijaonpoint reports that at 70 years old, Okonjo-Iweala, who previously served as Nigeria’s finance minister, made history in 2021 by becoming the first woman and the first African to lead the 30-year-old organization.
“I would like to be part of this chapter of the WTO story, and I stand ready to compete for the position.
“For my second term, I intend to focus on delivering,” she added, saying among the priorities were addressing “unfinished business,” Okonjo-Iweala said on Monday in a statement later confirmed by a WTO.
This initiative is part of a widespread effort led by African nations to initiate the process ahead of schedule, to address the “unfinished business” from her initial term.
The agenda encompasses an agreement to eliminate fisheries subsidies, achieve significant progress in global agricultural negotiations, reform the World Trade Organization’s (WTO) impaired dispute resolution system, and promote the decarbonization of trade.
Officially, Okonjo-Iweala has until the end of November to determine whether to submit her application again.
However, the African-led initiative to commence this process early, which began in July before U.S. President Joe Biden’s withdrawal from the election campaign and garnered support from numerous countries, is perceived as partly aimed at ensuring her reappointment ahead of the U.S. elections in November.
According to WTO consensus regulations, this could be feasible if no other candidates emerge and all member states endorse her candidacy.
In 2020, the administration of former U.S. President Donald Trump obstructed her appointment, an action interpreted by some as a critique of an organization he had previously labelled as “horrible.”
She regained U.S. support when Biden took office in 2021.
When asked about the potential success of both herself and the WTO in the event of a Trump election, she remarked, “I do not concentrate on that matter as it is beyond my control.”
Okonjo-Iweala stands out as one of the few leaders in the history of the WTO to successfully negotiate global trade agreements, including the initial segment of a worldwide treaty aimed at reducing fishing subsidies, which was finalized in 2022.
However, a high-level meeting that took place earlier this year resulted in limited achievements: the accession of two new members and an extension of an agreement to refrain from implementing digital tariffs.
Since that time, certain agreements, such as a subsequent fishing deal, have faced obstacles, primarily due to opposition from a single member—India.
Okonjo-Iweala acknowledged the challenges inherent in her role, noting that geopolitical tensions among the organization’s 166 members pose a considerable difficulty.
“It is tough, you know, very tough. There’s no getting away from that. But it’s also a job that makes me want to get out of bed in the morning,” she told Reuters.
Following the Trump administration’s decision in December 2019 to obstruct appointments to the World Trade Organization’s highest adjudicative body, the organization has been rendered ineffective, significantly limiting its ability to enforce compliance among member states.
This policy has persisted under the Biden administration.
However, there are ongoing discussions in Washington regarding potential reforms that may lead to the re-establishment of a dispute review mechanism in the future.