• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, March 29, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

WTO gets first female, first African Director-General

February 15, 2021
Stephen KotochiebyStephen Kotochie
in Around the Globe
0
WTO gets first female, first African Director-General

Dr. Ngozi Okonjo-Iweala

Dr. Ngozi Okonjo-Iweala of Nigeria made history on 15th February 2021 as she becomes the first woman and the first African to be chosen as Director-General of the World Trade Organization (WTO).

The General Council agreed by consensus to select the experienced Nigerian as the organization’s seventh Director-General as she assumes her post on 1st March 2021. Her term of office will expire on 31st August 2025, but with an option to renew after the expiration.

“This is a very significant moment for the WTO. On behalf of the General Council, I extend our warmest congratulations to Dr. Ngozi Okonjo-Iweala on her appointment as the WTO’s next Director-General and formally welcome her to this General Council meeting”.

 “Dr. Ngozi, on behalf of all members I wish to sincerely thank you for your graciousness in these exceptional months, and for your patience. We look forward to collaborating closely with you, Dr. Ngozi, and I am certain that all members will work with you constructively during your tenure as Director-General to shape the future of this organization” – General Council Chair, David Walker of New Zealand.

Dr. Okonjo-Iweala said a key priority for her would be to work with members to quickly address the economic and health consequences brought about by the COVID-19 pandemic.

RelatedPosts

Swiss Rival Bank, UBS Rescues Credit Suisse In a Government-Backed Deal

Russia Hints of Challenging US Nominee to Head World Bank

A Ghanaian Becomes the First African Woman to Be Elected as the Chair of UN Disability Committee

“I am honored to have been selected by WTO members as WTO Director-General.  A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic. I look forward to working with members to shape and implement the policy responses we need to get the global economy going again. Our organization faces a great many challenges but working together we can collectively make the WTO stronger, more agile, and better adapted to the realities of today”

 Dr. Okonjo-Iweala

The General Council decision follows months of uncertainty that arose when the United States initially refused to join the consensus around Dr. Okonjo-Iweala and threw its support behind Trade Minister Yoo Myung-hee of the Republic of Korea.

But following Ms. Yoo’s decision on 5th February 2021 to withdraw her candidacy, the administration of newly elected US President Joseph R. Biden Jr. dropped the US objection and announced instead that Washington extends its “strong support” to the candidacy of Dr. Okonjo-Iweala.

Amb. Walker extended his thanks to all eight of the candidates who participated in the selection process and particularly to Ms. Yoo “for her ongoing commitment to and support for the multilateral trading system and the WTO”.

The General Council agreed on 31st July 2020 that there would be three stages of consultations held over two months commencing September 7, 2020. During these confidential consultations, the field of candidates was narrowed from eight to five and then two.

On 28th October 2020, General Council Chair David Walker of New Zealand had informed members that based on consultations with all delegation’s Dr Okonjo-Iweala was best poised to attain consensus of the 164 WTO members and that she had the deepest and the broadest support among the membership. At that meeting, the United States was the only WTO member which said it could not join the consensus.

The process for selecting a new Director-General was triggered on 14th May 2020 when former Director-General Mr Roberto Azevêdo informed WTO members he would be stepping down from his post one year before the expiry of his mandate. He subsequently left office on 31st  August 2020.

Tags: africaDr. Ngozi Okonjo-Iweala of Nigeriafirst African Director-GeneraltradeWTO

Related Posts

Swiss Rival Bank, UBS Rescues Credit Suisse In a Government-Backed Deal
Around the Globe

Swiss Rival Bank, UBS Rescues Credit Suisse In a Government-Backed Deal

March 20, 2023
Russia Hints of Challenging US Nominee to Head World Bank
Around the Globe

Russia Hints of Challenging US Nominee to Head World Bank

March 9, 2023
A Ghanaian Becomes the First African Woman to Be Elected as the Chair of UN Disability Committee
Around the Globe

A Ghanaian Becomes the First African Woman to Be Elected as the Chair of UN Disability Committee

March 9, 2023
India Set to Push for Green World Bank Reforms to Increase Lending Capacity of Middle and Low-Income Countries at G20
Around the Globe

India Set to Push for Green World Bank Reforms to Increase Lending Capacity of Middle and Low-Income Countries at G20

February 24, 2023
Policy priorities for the G20 As Group of Twenty Finance Ministers Gather in India
Around the Globe

Policy priorities for the G20 As Group of Twenty Finance Ministers Gather in India

February 23, 2023
The World Bank President Resigns
Around the Globe

World Bank President to Resign in June

February 16, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Performance of Rural Banking Sector Improves – BoG

Next Post

PRINCE HARRY AND MEGHAN ARE EXPECTING A SECOND CHILD

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Akufo-Addo Appoints New Managing Director of PBC
Securities/Markets

Akufo-Addo Appoints New Managing Director of PBC

by Stephen M.CMarch 29, 2023
I’m Quitting Comedy In 5 Years – Comedian Basketmouth
Entertainment

I’m Quitting Comedy In 5 Years – Comedian Basketmouth

by Esther Korantemaa OffeiMarch 29, 2023
BoG Governor Appeals To Parliament For Quick Approval Of Revenue Bills To Fast-Track IMF Deal
General News

BoG Governor Appeals To Parliament For Quick Approval Of Revenue Bills To Fast-Track IMF Deal

by Gifty BansahMarch 29, 2023
Business Support Groups Poised to Drive African Integration
Africa

Business Support Groups Poised to Drive African Integration

by Stephen M.CMarch 29, 2023
What Exactly Changed? – Sam George Reacts To Video Of ‘The Evolution’ Of Joe Biden On Gay Marriage
General News

What Exactly Changed? – Sam George Reacts To Video Of ‘The Evolution’ Of Joe Biden On Gay Marriage

by Sam SamMarch 29, 2023
Russia Halts Sharing Of Missile Test Information With U.S
Europe

Russia Halts Sharing Of Missile Test Information With U.S

by Comfort AmpomaaMarch 29, 2023
Akufo-Addo Appoints New Managing Director of PBC
I’m Quitting Comedy In 5 Years – Comedian Basketmouth
BoG Governor Appeals To Parliament For Quick Approval Of Revenue Bills To Fast-Track IMF Deal
Business Support Groups Poised to Drive African Integration
What Exactly Changed? – Sam George Reacts To Video Of ‘The Evolution’ Of Joe Biden On Gay Marriage
Russia Halts Sharing Of Missile Test Information With U.S
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In