The newly appointed World Trade Organisation Director General, Okonjo-Iweala, said a key priority for her would be to work with members to quickly address the economic and health consequences brought about by the COVID-19 pandemic.
“I am honoured to have been selected by WTO members as WTO Director-General.
“A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic.
“I look forward to working with members to shape and implement the policy responses we need to get the global economy going again.
“Our organisation 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,” the former Nigeria Finance Minister said in her acceptance speech after she was affirmed as DG by WTO members Monday.
WTO members made history on Monday as its General Council agreed by consensus to select Nigeria’s Dr. Okonjo-Iweala as the organisation’s seventh Director-General.
When she assumes office on March 1, 2021, Okonjo-Iweala will become the first woman and the first African to be chosen as Director-General.
Her term, renewable, will expire on 31 August 2025.
“This is a very significant moment for the WTO. On behalf of the General Council, I extend our warmest congratulations to Dr Ngozi Okonjo-Iweala on her appointment as the WTO’s next Director-General and formally welcome her to this General Council meeting,” said the WTO General Council Chair, David Walker of New Zealand, who, together with co-facilitators Amb. Dacio Castillo (Honduras) and Amb. Harald Aspelund (Iceland) led the nine-month DG selection process.
“Dr Ngozi, on behalf of all members I wish to sincerely thank you for your graciousness in these exceptional months, and for your patience.
“We look forward to collaborating closely with you, Dr Ngozi, and I am certain that all members will work with you constructively during your tenure as Director-General to shape the future of this organization,” he added.
The General Council decision followed months of uncertainty which arose when the United States initially refused to join the consensus around Okonjo-Iweala and threw its support behind Trade Minister Yoo Myung-hee of the Republic of Korea.
But following Ms Yoo’s decision on February 5, to withdraw her candidacy, the administration of newly elected United States President, Joe Biden Jr, dropped the US objection and announced instead that Washington extends its “strong support” to the candidacy of Okonjo-Iweala.
Walker extended his thanks to all eight of the candidates who participated in the selection process and particularly to Yoo, “for her ongoing commitment to and support for the multilateral trading system and for the WTO.”