WorldStage Newsonline– The World Trade Organisation (WTO) members on Monday elected Nigerian economist, Dr Ngozi Okonjo-Iweala, to be the next director-general of the organization.
She will be the first woman and the first African to lead the WTO.
The decision was taken at a special meeting today of the organisation’s General Council.
“Dr Okonjo-Iweala will become the first woman and the first African to head the WTO,” the WTO said in a statement.
Okonjo-Iweala will assume duties on March 1, while her term will expire on Aug. 31, 2025, but it could be renewed, the organisation noted.
Fellow female leaders, such as European Commission’s President Ursula von der Leyen and President of the European Central Bank Christine Lagarde, have already congratulated Okonjo-Iweala on the appointment.
“This is an historic moment for the entire world. I’m so glad to see a woman from Africa at the head. Europe is fully behind you.
“We support the reform of the WTO and will help you protect the rules-based multilateral trading system,”Von der Leyen said on Twitter.
Lagarde noted that she has “known Ngozi for many years. Her strong will and determination will drive her to tirelessly promote free trade to the benefit of people worldwide.”
Okonjo-Iweala’s appointment follows months of deadlocked discussions between the WTO members on who should be chosen as the next director-general since former chief Roberto Azevedo stepped down in August, a year earlier than his second four-year term was set to end.
The delays in the appointment of WTO chief reportedly stemmed from the reluctance of former U.S. President Donald Trump to approve the Nigerian economist’s candidacy.
The Trump administration favoured South Korean Trade Minister Yoo Myung-hee.
However, after Joe Biden assumed presidency, the South Korean minister decided to quit the race paving the way for Okonjo-Iweala’s selection.
The economist and expert in international finance and development is regarded as a skilled negotiator and consensus builder, having gathered experience in Africa, Asia, Europe, Latin America and North America.
The 66-year-old chairs the GAVI Vaccine Alliance and sits on the board of Twitter.
She was recently appointed African Union Special Envoy for the continent’s access to the COVID-19 tools accelerator.
Okonjo-Iweala spent 25 years as a development economist at the World Bank, during which she quickly rose through the ranks to become managing director of operations.
She spearheaded several World Bank initiatives to assist low-income countries during both food and financial crises, generating more than 40 billion dollars for the International Development Association (IDA), the World Bank’s grant and soft credit arm.
Okonjo-Iweala twice served as Nigerian finance minister (2003-2006 and 2011-2015) and briefly acted as foreign minister in 2006. She was the first Nigerian woman to hold both positions.
She earned an economics degree from Harvard University (1976), graduating magna cum laude, a doctorate from the Massachusetts Institute of Technology (MIT) and received 15 honorary degrees from universities across the world.
Okonjo-Iweala is the author of numerous books and articles on finance and economics.
Transparency International named her one of eight inspirational female anti-corruption fighters in 2019, while Fortune Magazine called her one of the 50 greatest world leaders in 2015.
In 2014, Time Magazine listed her among the top 100 most influential people in the world.
Okonjo-Iweala is married with four children and has three grandchildren.