Development
Nigeria’s Ngozi Okonjo-Iweala Appointed The WTO Director Becoming The First African To Hold The Office
Okonjo-Iweala, 66, was appointed director-general of the World Trade Organization by representatives of the 164 member countries, according to a statement from the body.
She said in a statement that her first priority would be quickly addressing the economic and health consequences of the COVID-19pandemic and to “implement the policy responses we need to get the global economy going again.”
“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,” she said.
The appointment came after new U.S. President Joe Biden endorsed her candidacy, which had been blocked by former President Donald Trump.
Biden’s move was a step toward his aim of supporting more cooperative approaches to international problems after Trump’s “America first” approach that launched multiple trade disputes.
But unblocking the appointment is only the start in dealing with trade disputes launched by Trump, and in resolving U.S. concerns about the WTO that date to the Obama administration. The U.S. had blocked the appointment of new judges to the WTO’s appellate body, essentially freezing its ability to resolve extended and complex trade disputes.
The U.S. government has argued that the trade organization is slow-moving and bureaucratic, ill-equipped to handle the problems posed by China’s state-dominated economy and unduly restrictive on U.S. attempts to impose sanctions on countries that unfairly subsidize their companies or export at unusually low prices.
Earlier this month, the Biden administration reversed Trump’s opposition and expressed “strong support’’ for Okonjo-Iweala and saying she “brings a wealth of knowledge in economics and international diplomacy.” She is the first African official and the first woman to hold the job.
Okonjo-Iweala, formerly Nigeria’s finance minister, had a 25-year career at the World Bank, where she rose to the No. 2 position of managing director. She holds both U.S. and Nigerian citizenship.
South Korean trade minister Yoo Myung-hee had withdrawn her candidacy, leaving Okonjo-Iweala as the only choice. Her predecessor, Roberto Azevedo, stepped down Aug. 31, a year before his term expired.
Trump repeatedly accused the WTO of unfair treatment of the U.S., started a trade war with China in defiance of the WTO system, and threatened to pull the United States out of the trade body altogether. Trump also imposed 25% steel tariffs that hit European allies on national security grounds, a justification that went beyond trade measures normally used within the WTO rules framework to address complaints about unfair trade.
So far, Biden has not said whether the U.S. will unblock the appellate appointments, and he has not withdrawn the steel tariffs either, which are backed by U.S. steel industry and union groups.
The World Trade Organization is an international body that deals with the rules of trade between nations. At its heart are the WTO agreements, negotiated among the bulk of the world’s nations and ratified in their legislatures.
(AP)
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
-
Business1 week agoEastleigh Businessman Accused of Sh296 Million Theft, Money Laundering Scandal
-
Investigations6 days agoInside Nairobi Firm Used To Launder Millions From Minnesota Sh39 Billion Fraud
-
Business7 days agoMost Safaricom Customers Feel They’re Being Conned By Their Billing System
-
Business1 week agoEXPLOSIVE: BBS Mall Owner Wants Gachagua Reprimanded After Linking Him To Money Laundering, Minnesota Fraud
-
News6 days agoUnfit for Office: The Damning Case Against NCA Boss Maurice Akech as Bodies Pile Up
-
News7 days agoTax Payers Could Lose Millions in KWS Sh710 Insurance Tender Scam As Rot in The Agency Gets Exposed Further
-
Sports1 week agoFury as Bettors Demand Probe Into Betika Over Alleged Unpaid Winnings
-
News7 days agoPastor James Irungu Collapses After 79 Hours Into 80-Hour Tree-Hugging Challenge, Rushed to Hospital
