Dr. Ngozi Okonjo-Iweala,former Nigeria’s finance minister and managing director at the World Bank, is upbeat about her chances of becoming the Director-General of the World Trade Organization.
In a video posted on her Twitter handle, the reputed developmental economist, with wide-range of experiences, described the WTO as an organisation that has become more important than ever, especially since outbreak of coronavirus pandemic.
With the outbreak of the COVID-19 pandemic, the world needs to come together using trade to build a better society, she said.
According to her, “Trade is a force for good, and (if) properly harnessed can help lift millions out of poverty and bring shared prosperity,” she said. “The role of WTO is more vital than ever. Let’s fight for a WTO that works for all.”
She said COVID-19 has changed the face of world economy and thus the WTO needs to work with its members to pull through the difficult times.
Nigeria switched candidates for the WTO top job with President Muhammadu Buhari nominating Okonjo-Iweala to replace Fredrick Agah who was on the running for the post.
The Economic Community of West African States (ECOWAS) has backed her nomination for job for which South Korean Trade Minister Yoo Myung-hee; Kenya’s former foreign minister Amina Mohamed; Mexico’s former WTO deputy director-general Jesus Seade Kuri; Egyptian former diplomat Hamid Mamdouh; and former Moldovan foreign minister Tudor Ulianovschi are also vying.
A report by POLITICO rates the chances of Okonjo-Iweala who currently sits on the board of Twitter on top of previously being the number two person at the World Bank, high.
The news medium believes that Okonjo-Iweala has all the requisite experience needed to head the WTO but the politics among African leaders could see her lose out completely.
POLITICO,in its recent edition, reports that there are two other candidates being considered by the African Union and this could both hamper Okonjo-Iweala’s chances of securing the job or Africa’s opportunity to clinch the position to other continents also vying for the spot.
Africa is well-positioned to land the world’s leading trade job but only if its politicians can rally behind a unifying candidate, according to the medium.
At the close of nominations at 6:00pm in Geneva, Switzerland, on Wednesday, three out of the eight candidates to head the WTO are Africans but this three-way split poses immediate hurdles for the continent’s chances.
The news medium further reported the African candidates are boosted by a growing consensus in Geneva that it was time for an African trade chief as the continent had never held the post while other regions such as Europe have held it several times.
However, both African representatives in Geneva and officials of the African Union have failed to back a single candidate so far.
The main process starts in mid-July when the WTO’s highest body, the General Council, meets the candidates for the first time, according to a document distributed to delegations and seen by POLITICO.
POLITICO analysis of the candidates rates both Okonjo-Iweala and Amina Mohamed of Kenya 8/10 to succeed in the race for the job while the other African in the frame, Hamid Mamdouh of Egypt has 6/10 chance of emerging the head of the global organisation.
The VOA reported that in a surprise move in mid-May, Azevedo, 62, announced that he would end his second four-year term early for personal reasons, forcing the Geneva-based WTO’s 164 member states to come up with a successor in just three months instead of the usual nine.
According to VOA News, rather than an election, the selection procedure relies on finding consensus, with candidates gradually being eliminated in turn.
The WTO finds itself caught in the middle of rising tensions between the United States and China, and if the process becomes “heavily politicized, that could block things up”, a diplomatic source told AFP.
If a consensus cannot be reached in time, one of the four deputy directors-general will take the reins in September on a caretaker basis.
