Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), has expressed her intention to pursue a second four-year term leading the global trade body. This announcement comes in response to an Africa-led initiative to initiate the selection process earlier than usual.
In a statement to Reuters on September 16, 2024, Okonjo-Iweala confirmed her readiness to compete for the position, citing her desire to contribute to the ongoing narrative of the WTO. She plans to formally communicate her intentions to the organization's primary decision-making body.
The current Director-General emphasized her commitment to achieving results in a potential second term. Okonjo-Iweala highlighted two key priorities: finalizing an agreement on fisheries subsidies and making significant progress in global agriculture negotiations. These issues have long been on the WTO's agenda, with fisheries subsidies discussions spanning over two decades and agriculture talks ongoing since the launch of the Doha Round in 2001.
Okonjo-Iweala's tenure, which began on March 1, 2021, has been marked by several notable achievements and challenges. As the first woman and first African to lead the WTO, she brought a unique perspective to the organization, particularly with her background in development economics. During her leadership, the WTO navigated the complexities of global trade amid the COVID-19 pandemic, addressing issues such as vaccine distribution and trade restrictions.
The WTO, established in 1995 and headquartered in Geneva, Switzerland, plays a crucial role in ensuring smooth and predictable international trade flows. With 164 member countries, the organization operates on a consensus-based decision-making process, which can sometimes lead to protracted negotiations on complex issues.
Okonjo-Iweala's potential second term, if successful, would run from March 1, 2025, to February 28, 2029. Her experience as Nigeria's Finance Minister and her work at the World Bank have contributed to her unique approach to global trade challenges.
As the WTO continues to address longstanding issues and emerging global trade dynamics, Okonjo-Iweala's bid for a second term reflects her commitment to furthering the organization's mission and tackling unresolved matters in international commerce.
"I would like to be part of this chapter of the WTO story and I stand ready to compete for the position."
The coming months will likely see increased focus on the WTO's leadership selection process and the potential impact on ongoing trade negotiations and global economic cooperation.