NIGERIA’S OWN OKONJO-IWEALA GEARING UP TO MAKE HISTORY

The former Nigerian finance minister and world bank managing director Dr Ngozi Okonjo-Iweala has reached the last two of the leading candidate for the leadership of the highest trading ogarnisation in the world, World Trade Organisation, on October 06 2020, along side Ms Yoo Myung-hee who on her own part is a South Korea’s trade minister. She has helped expand her country’s trade network through bilateral accords with the U.S., China and the UK. The two women announcement to have advanced to the final round of the selection process marks the first time the WTO would have its first female director-general in its 25-year history.

Dr Okonjo-Iweala along side her Kenyan counterpart Mohamed a former chairwoman of the WTO’s general council had made it to the last five While African members can be impressed by the success of these two African women making the last five, The two African candidates compete to unify the continent’s vote to face off against Yoo Myung-hee of South Korea, Mohammad Maziad Al-Tuwaijri of Saudi Arabia and Liam Fox of the United Kingdom. 

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The second phase of the election will run till 6 October produces the last two finalist. Member states are asked to nominate two preferences with the mandate to bring the number of candidates from five to two, to achieve this, member took three days of consultation before the final verdict on the two finalist was announced on Wednesday, with the winner schedule to take office in November.

The new director-general to replace incumbent Roberto Azevêdo, will take charge amid global tension and economy uncertainty. The emergence of the corona virus has brought about high tension, including an ongoing trade war between the US, China and some other countries whose Trump reservations towards it deeds has created a global trade crisis, although the winner will have a huge task to bring about parity in the high tensioned trade atmosphere, It is hoped that an African candidate can help to mediate the dispute and put African trade issues at the front burner of the international agenda.

“Africa has some painful choices to make both in terms of its own unity and, in the long run, for its future in international trade. Should an African DG be selected, they would be symbolic of African unity and, subsequently, well-positioned to cajole Africa on internal issues. Africa also has to undertake another internal reckoning toward a reform agenda in the long-run…To grow, Africa needs to graduate toward non-preferential trade access, and compete on the strength of its exports. African exports have remained depressed and stucked