Former Minister of Finance, Dr. Ngozi Okonjo-Iweala, who is a front runner for the office of the Director of the World Trade Organisation (WTO), in a messaged yesterday, declared she is fully able to change the WTO for the benefit of all its members.
In a press briefing, in New York City, after her appearance before the selection committee, told President Trump, or anyone who will succeed him in the forthcoming presidential elections in the United States, that the US should not be pulled out of the WTO.
She said: “Don’t leave now; let’s fix what needs to be fixed.”
This statement was made in line with the recent threats from Washington, to withdraw the US from the organisation, with allegations of poor management and “unfair trade”. The President of the United States told Fox News, that the WTO was established to benefit every country but the US.
This is mostly because, Trump is not comfortable with the open trade policy of the WTO, as it doesn’t correspond with his protectionist trade policies. However, The US is one of the founders of the WTO, which has been charged with the responsibility of regulating global trade and dispute resolution among members.
Okonjo-Iweala, who was formerly a Managing Director at the World Bank, is West Africa’s candidate for thr wTO DG. She is contesting for this position with seven other candidates. Okonjo-Iweala believes she possesses all it requires to be the boss.
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Meanwhile, the All Progressives Congress (APC) Progressive Governors Forum (PGF) has declared support for Okonjo-Iweala. Chairman of the forum and Governor of Kebbi, Abubakar Atiku Bagudu, in a statement said President Muhammadu Buhari, in endorsing her candidature, has not only presented the best to the world, but also presented a credible person with integrity.
“The literal freezing of world trade occasioned by the coronavirus pandemic serve as a stark warning that we need to have a better trade system. 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. Reforming the WTO is at the heart of any of such quests, and thus the choice of the next leader of the organisation matters.
“African countries have been committed to the WTO and have been patiently hopeful. The WTO Agreement was signed in 1995 at Marrakech in Morocco with many African countries being early signatories. Progress has been painstakingly slow with agreement of more equitable trade and agriculture on the table since 2001 it started in Doha, Qatar, known as Doha round.
“In nominating our own Ngozi Okonjo-Iweala, President Buhari is not just presenting a Nigerian Candidate but also presenting to the world one of its best, albeit from Nigeria, and one who is eminently qualified to lead the task of fixing the world trading system.
“An economist, international development expert and a global public servant, Okonjo-Iweala is one candidate that come with all the experiences and expertise required to reposition the WTO. Both President Buhari and Okonjo-Iweala deserve commendation for giving the world the opportunity towards correcting the distortions in the world trading system.”
