Governors under the umbrella of Progressive Governors’ Forum (PGF) have called on member countries of the World Trade Organisation (WTO) to support Nigeria’s candidate, Dr Ngozi Okonjo Iweala for election into the office of the director-general.
The governors further said the main objective of establishing the WTO is to create a trading system that is equitable and with least distortions. In a statement issued and signed by the PGF chairman and governor of Kebbi state, Atiku Bagudu, he said the literal freezing of world trade occasioned by the coronavirus pandemic serves as a stark warning that the world needs to have a better trade system.
“Regrettably, while being an improvement on the Agreement on Trade and Tariffs (GATT), the WTO is yet to deliver in achieving the objectives. Worst still is that it is perceived as impotent.
The exit of UK from EU and the brickbat between the US and China is an illustration of the difficulties with bilateral trade agreements not to talk of a global one. The failure of the WTO to reach an agreement on agriculture, for example is punitive to all of Africa”, he said. “Whoever imagined that
one country can seize medical supplies going to other countries?
Fixing the global trading system is one of the most important challenges of our time and doing so shall contribute to global prosperity more than any agreement. In so doing, poverty shall be reduced and global prosperity shall be more equitably shared