The WTO has been announced to be run by a woman for the first time in its 25-year history as it was announced that the final choice to be its new Director General would be between Yu Myung-hee of South Korea and Nozi Wonjo of Nigeria. -Iweala.
Former UK international trade secretary Liam Fox failed to make the final shortlist as the number of candidates was reduced from five to two.
A long battle to secure one of Ber’s international jobs will be decided early next month, with the winning candidate facing a range of pressing problems.
Fox failed to muster enough support, despite US support, barring an election between veteran business executives at Yo and a candidate in Okonzo-Iwela, who say the organization needed a new pair.
Other unsuccessful candidates in the second leg of a race that started with eight hopes were among the original favorites, Amina Mohammed of Kenya and Mohammed Al-Tuwajri of Saudi Arabia.
Okonzo-Iwela has served two terms as the Finance Minister of Nigeria and has also been the Foreign Minister of his country. Being at number two in the World Bank, she is running as an outsider and as a candidate to give new political momentum to the World Trade Organization.
Interviewed by the Guardian last month, she said: “It’s true that I’m not an WTO insider but that’s a good thing. We need someone who knows the trade but brings a fresh pair of eyes.
“There are many people with technical skills in the World Trade Organization. There is no shortage of business skills but there are problems and they are getting worse. Something else is needed, strong political skills, able to engage a leader in a strong way. ”
Yoo has a 25-year-old record in government and has worked on a number of bilateral trade deals with the US and the UK.
Kovid-19 has an impact on global trade flows, with the World Trade Organization expecting a 9.2% decline this year and only a limited rebound in 2021.
The epidemic ensues between the ongoing trade war between the US and China, the WTO’s failure to complete the Doha round of trade liberalization negotiations, and Washington’s refusal to allow the appointment of judges for the organization’s disputes. The police have impaired their capacity for global trade.
The WTO has in the past decided on its leaders through the consensus of its members. If this proves impossible, a vote will be held.