WTO: France, Germany, 104 other countries back Okonjo-Iweala

Post Date : October 27, 2020

The 27 European Union member states have backed Nigeria ’ s former finance minister, Ngozi Okonjo -Iweala , in her bid to become the first African and first female director-general of the World Trade Organisation.

The EU member states are France , Germany , Austria , Belgium, Bulgaria , Croatia , Cyprus, Czech , Denmark , Estonia, Finland, Greece , Hungary, Ireland , Italy , Latvia , Lithuania, Luxembourg, Malta , Netherlands , Poland , Portugal , Romania , Slovakia , Slovenia , Spain, and Sweden.

The latest support for Okonjo -Iweala ’ s candidacy brings the number of countries officially endorsing her to 106 out of the 164 states that comprise the WTO.

The 55- member African Union had earlier officially supported the former World Bank director over her sole remaining opponent , Yoo Myung – hee of South Korea.
Okonjo -Iweala had also won the goodwill of a group of Caribbean and Pacific States as well as others from Asia .

The PUNCH had earlier reported that the European Parliament endorsed Okonjo – Iweala to head the WTO, saying she is well- equipped . The Parliament had subsequently written the EU to support the Nigerian candidate.

When EU member states convened on Monday , they failed to find a consensus around the choice
but the EU representatives reconvened and agreed to back Okonjo -Iweala , according to AFP news agency.

The WTO’ s consultation process ends today and the new leader is expected to be named in November but an EU official said the EU will publicly announce its support for the 66-year – old economist today, according to AFP.

The final winner between the two women will replace Brazil ’ s Roberto Azevedo and former director- general of the 25-year – old trade organisation.

The initial pool of eight candidates for the WTO’ s top post, which has been whittled down over two rounds of consultations, had included three Africans – Nigeria , Egypt and Kenya .

The third and final round of consultations seeking to establish consensus around one candidate is due to end today , with the announcement due in early November.

If Okonjo -Iweala is confirmed , she will join the WTO at a difficult time , with the world facing a deep post-coronavirus recession and a crisis of confidence in free trade and globalisation .

A trade war is brewing between the world ’ s anchor economies – the United States and China – and the European Union will see G7 member Britain leave its single market at the end of the year.
US President Donald Trump faces a tough battle for re -election early next month, but under his leadership , Washington ’ s relationship with the WTO has suffered .

His administration has appealed a WTO ruling that faulted US duties imposed on hundreds of billions of dollars in Chinese goods .

Usually , the WTO Appellate Body would have three months to rule on any appeals filed .

But that process has been complicated since the WTO Appellate Body – also known as the supreme court of world trade – stopped functioning last December as the US blocked the appointment of new judges to the panel.

Leave a Reply

Your email address will not be published. Required fields are marked *