People & Money

WTO: Okonjo-Iweala Gets Overwhelming Support, but USA’s Position Stalls Her Emergence as DG

The United States’ decision to block the nomination of former Nigerian minister of finance, Ngozi Okonjo-Iweala, on Wednesday stalled her emergence as Director-general of the World Trade Organisation.

Mrs Okonjo-Iweala won the overwhelming support of the World Trade Organisation’s 164 members Wednesday but her chances of being declared the next director general of the trade body remains uncertain as the United States’ opted for her rival in the race for the top job.

Earlier on Wednesday, Mrs Okonjo-Iweala moved a step closer to becoming the first woman and the first African to be director of the global trade watchdog after she secured the support of a key group of trade ambassadors in Geneva.

Also Read: What Okonjo-Iweala’s WTO Win Will Do For Nigeria, Africa – Spokesperson

Reports said the former Nigeria minister is being backed by countries in the Caribbean, the European Union, China, Japan, Africa and Australia.

But the United States raised last-minute objections to the process by which the new director general was being picked Wednesday, despite Mrs Okonjo-Iweala’s widespread support.

Reports said Washington is unhappy with the way the trade body has chosen to select it’s new leader.

Although, in the last 25 years, every director general of the trade body has been appointed by consensus, things may differ this time.

Also Read: Okonjo-Iweala Wins EU Backing for WTO Bid as US Supports Korean Rival

Should the United States maintain that it will not support Okonjo-Iweala, the WTO’s constitution makes provision for a vote.

Washington’s position may be affected by the result of next week’s presidential election, in which President Donald Trump is seeking reelection.

On Wednesday evening, the WTO said its General Council Chair David Walker has reported on the results of the consultations and the candidate that had the best chance of attaining a consensus of the membership is Dr. Ngozi Okonjo-Iweala of Nigeria.

However, consultations on the way forward will start immediately, the trade body noted.

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