President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has expressed optimism over the appointment of Madam Ngozi Okonjo-Iweala as the new chief of the World Trade Organisation, calling it a win for the African Continental Free Trade Area (AfCFTA) Agreement.
The appointment, according to Dr. Obeng and the commencement of the AfCFTA are timely, further indicating the two actions must in due course work to engender the benefit of the continent.
“It is not just about occupying the position but what she brings to bear and how she is going to project trading in Africa especially now that we are having Continental Free Trade Areas, what and what will go into it so that it can help the whole program”.
Dr. Joseph Obeng
The World Trade Organization’s (WTO) first female and first African Director-General Ngozi Okonjo-Iweala started work on Monday after her official appointment on February 15.
Her appointment comes as she fills a six-month WTO leadership void and after her campaign was derailed by a veto from the former US Trump administration.
The arrival of his successor, Joe Biden, made it possible for her to receive the consensus backing required to end the impasse.
“I am coming into one of the most important institutions in the world and we have a lot of work to do,” the former Nigerian finance and foreign minister said as she arrived for her first day on the job in Geneva.
“I feel ready to go.”
Ngozi Okonjo-Iweala
The WTO boss on her first day on the job in Geneva coincided with the annual meeting of the WTO’s General Council, disclosing to the media her expectations for her first day.
“I am hoping to be able to listen in and see what delegations have to say, what ambassadors have to say, about the key issues”.
This historic position coincides with the annual meeting of the body’s General Council where delegates are to agree on the organisation’s next ministerial conference.
One of the first tasks for the 66-year-old Nigerian former finance minister will be to nominate four new deputy directors to help recharge the organisation’s negotiating mechanism.
This and others amid the global economic crisis triggered by the COVID-19 pandemic, are concerns voiced by Okonjo-Iweala about growing protectionism and nationalism.
The leader has already insisted that trade barriers must be lowered to help the world recover. and her term in office will see about any possible improvement to the collective health of the global economy.
She has also indicated that trade barriers must be lowered to help the world recover and her term in office will hope to bring possible improvements to the collective health of the global economy.
According to her, her vision is to rejuvenate and strengthen the World Trade Organization to enable it to tackle ongoing issues effectively.
With the vision of the AfCFTA being to create a single African market and accelerate intra-African trade and boost Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations, Madam Ngozi’s appointment could be the light in the tunnel of opportunities.
