WTO DG: EU snubs Britain, backs Okonjo-Iweala

European Union (EU) governments has snubbed the UK’s former Secretary of State for International Trade, Liam Fox,  and expressed support for Dr. Ngozi Okonjo-Iweala, Nigeria’s candidate for the position of the Director-General (DG) of the World Trade Organisation (WTO) as the race enters the final month. In addition, according to Bloomberg the EU governments selected the South Korean candidate, Yoo Myung-hee, who is the country’s trade minister, as the second contender for the job, the bloc would be supporting. The WTO’s General Council is expected to meet today to reduce the five candidates still in the race for DG to two. EU member-country envoys agreed yesterday in Brussels to endorse Okonjo-Iweala, Nigeria’s former finance minister, and Yoo Myung-hee, South Korea’s trade chief, in their bids, to become WTO director-general, Bloomberg quoted an official familiar with the matter.

Hungary swung behind the planned recommendation after being the only EU country to withhold support at a lower-level meeting last Friday of officials representing the 27-nation bloc, the person said on the condition of anonymity because the deliberations were confidential. Five candidates are still in the running to lead the WTO. It plans to announce two finalists after October 6 and name a winner by November 7. Brazilian Roberto Azevedo had stepped down from the job at the end of August – a year before his term ended. The Geneva-based trade body faces headwinds from the coronavirus pandemic, the United States-China trade battle, a hobbled arbitration system and a lack of tools to tackle growing challenges such as industrial subsidies.

Okonjo-Iweala; Saudi Arabia’s former Minister of Economy and Planning, Mohammad Al-Tuwaijri; UK’s former Secretary of State for International Trade, Liam Fox; Yoo Myung-hee; and Kenya’s former International Trade Minister, Amina Mohammed are the aspirants still in the race. The remaining five contenders are either current or former ministers, something that trade officials had previously said was an important characteristic for a future director-general. Okonjo-Iweala’s high professional/personal qualities, international contacts and impeccable records as Nigeria’s former Finance minister/Foreign Affairs minister and as former managing director of the World Bank, stand her high above other contestants, pundits familiar with the voting preferences of WTO’s Governing Council had argued.

Okonjo-Iweala is a renowned global finance expert, an economist and international development professional with over 30 years of experience, having worked in Asia, Africa, Europe, Latin America, and North America. She is presently the Chair of the Board of GAVI, the Vaccine Alliance.