The World Trade Organization (WTO) has new Director General, Dr Ngozi Okonjo-IwealaShe took office on 1 March, becoming the first woman to lead the WTO. Her mandate expires on 31 August 2025 and is renewable for a single additional term.
In her opening speech, pronounced immediately after taking office, Okonjo-Iweala He called for promoting reforms, working in the best way to revitalize the WTO and called for intensifying cooperation.
“I will bring all my knowledge, passion, experience and perseverance to the task at hand, reforming the organization and achieving results,” he said, stressing that the expectations placed on his mandate can only be met if everyone is willing to make concessions and reach agreements.
The world is leaving the WTO behind as there is a growing loss of confidence in the organisation to deliver results, but “if we all accept that we can no longer do business as usual, that will help us create parameters for success,” he said.
He said delegates had high expectations for priority issues to work on, including tackling COVID-19, concluding negotiations on fisheries subsidies, and dispute settlement reform, including the restoration of the Appellate Body.
He also proposed measures on agriculture, market access, domestic aid, industrial subsidies for state-owned companies, and advances in e-commerce, among others.
"The WTO faces many delicate challenges, but they are not insurmountable"There is hope if we work together in a way that builds trust and bridges," he said.
Ngozi Okonjo-Iweala is an economist, global finance expert and international development practitioner with over 30 years’ experience working in Asia, Africa, Europe, Latin America and North America. She is a skilled negotiator and has managed numerous international agreements. Regarded as an effective and honest consensus-builder, she is trusted by governments and other sectors of international trade.
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