Nigeria’s Ngozi Okonjo-Iweala is finely poised to be appointed as the next Director General of the World Trade Organization (WTO) in 2021, after the only other opposing candidate, Yoo Myung-Hee of South Korea pulled out of the race to become chief of the 25-year-old organization.
She initially was on the wrong side of the race to become Director General, as she remained on the wrong side of the American government under President Donald Trump.
However, with the only opposition having dropped out, new President Joe Biden has now given his backing to Dr Okonjo Iweala. She is set to become the first woman and first African to ever be appointed as the Director General of the organisation, and the first American citizen to be appointed.
Dr Ngozi Okonjo-Iweala graduated with honours in Economics from Harvard University in 1976 and got her Doctorate degree in Economics from the famed Massachusetts Institute of Technology in 1981.
She then went on to intern at the World Bank, rising to the position of Vice President before she was appointed by then Nigerian president, Olusegun Obasanjo as his Minister of Finance in 2003, the first ever woman to be appointed to the position, and she held the position for two terms under two different presidents, the second of whom was President Goodluck Jonathan in 2011.
During her time as Minister, she oversaw many policy changes that reduced the levels of corruption in the country and headed several negotiations with the international community that saw Nigeria cancel some of her debts.
She helped to turn around Africa’s largest economy with several practical economic reforms. She also briefly acted in 2006 as Nigeria’s first Minister for Foreign Affairs.
She eventually rose to the highest position by appointment at the World Bank in 2013, when she was appointed as Managing Director. She was also appointed as a member of South Africa’s Presidential Economic Advisory Council by President Cyril Ramaphosa in 2020.
The WTO is an organization that allows governments worldwide to negotiate trade agreements. The purpose of this organization is to liberalize trade to benefit its 164 members.
The WTO has been weakened by the continued trade war between China and the West, and one of Dr Okonjo-Iweala’s first tasks will be to ensure that those trade wars do not affect countries with lesser trading power.
The incoming Director-General is one who is known for her extensive negotiation skills, having held numerous top positions in several international organizations.
Her international exposure has helped her to create an extensive network, one which cannot be formed in a casino NetBet Nigeria or party, which can help her achieve success at her new post with the WTO.
Being an African, she is in a perfect position to have an objective view to the ongoing trade issues between China and the United States of America.
NetBet Nigeria fans believe that the appointment of Dr Okonjo-Iweala would be very beneficial for the World Trade Organisation as she would implement economic policies that would help to bridge the gap between the developed world and the developing countries to achieve economic growth and development.