World Trade Organization
The World Trade Organization is an international body responsible for regulating the rules of trade between two or more countries for the benefit of all.
These rules and decisions are prepared and implemented by WTO members which can be WTO Ministers or Ambassadors. The Ministers usually meet bi-annually while the Ambassadors meet regularly in Geneva, Switzerland.
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The foundation of the WTO is built on a set of simple and fundamental principles that guides the multilateral trading system.
WTO Director General
News making the rounds suggest Ngozi Okonjo-Iweala has been appointed as the new Director General of WTO.
This announcement is false and shouldn’t be taken with any grain of salt.
The selection process for the DG of the WTO is still on-going and it won’t end until October 28, 2020.
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The selection process is in its third phase with two finalists; Ngozi Okonjo-Iweala and Yoo Myung-Hee, contesting to succeed the current DG, Roberto Azevêdo.
Who will be the next DG of WTO?
Director-General selection of the WTO is in its third phase after the elimination of six candidates from the initial eight candidates.
The commencement of the appointment for the next DG of the WTO was announced by the General Council Chair David Walker of New Zealand on May 8, 2020.
The nomination of candidates for this position started on 8 June and ended on 8 July with a total of eight candidates.
After a series of activities designed to select the best candidate, the process is at its final stage with just two women as finalists.
We have decided to highlight the characteristics of these women as we wait for the new DG of the WTO.
| CHARACTERISTICS | NGOZI OKONJO-IWEALA | YOO MYUNG-HEE |
|---|---|---|
| Image |  |  |
| Job nickname | Okonjo-Wahala | Devil's Advocate |
| Education | Ph.D Economics and Development, MIT | Juris Doctor, Vanderbilt University Law school |
| Occupation | Development Economist | Lawyer |
| Top job | Managing Director World Bank | Minister of Trade, South Korea |
| strength | Candidate with knowledge spanning across trade, economics and public health. | Exeperience with US and China trade. |
| History | First woman to be Minister of finance in Nigeria | First woman to be Minister of trade in Korea in the last 70 years |
| Weakness | No World Trade Organization experience | No international organization experience |
| Citizenship | Nigerian-American | South Korean |
| Age | 66 | 53 |
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