Home News Revealed:Why US Opposes Okonjo-lweala's WTO DG Bid

Revealed:Why US Opposes Okonjo-lweala’s WTO DG Bid

__Says WTO needs a Trade expert for Reforms

— Am a Trade expert -Okonjo-Iweala

By Frederick Peters, KADUNA

US: Why we oppose Okonjo-Iweala’s election as WTO DG
Report has revealed why the United States is opposed to the emergence of Nigeria’s Former Minister of Finance, Dr Ngozi Ikonjo-lweala,as the next Director General,World Trade Organization WTO, come November 9.

According to the United States WTO required serious reforms hence the need for an expert in that regard,thus informing their support for the Korean Trade Minister, Yoo Myung-hee as next,WTO DG

Through a statement issued by the office of the US trade representative on Wednesday, the world power said the WTO is in dire need of reform and must be “led by someone with real, hands -on experience in the field”.

“The United States supports the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General,” the USTR, led by Robert Lighthizer (pictured above), said.

“Minister Yoo is a bona fide trade expert who has distinguished herself during a 25-year career as a successful trade negotiator and trade policy maker. She has all the skills necessary to be an effective leader of the organization.

“This is a very difficult time for the WTO and international trade. There have been no multilateral tariff negotiations in 25 years, the dispute settlement system has gotten out of control, and too few members fulfill basic transparency obligations.

“The WTO is badly in need of major reform. It must be led by someone with real, hands-on experience in the field.”

The bone of contention has always been that Okonjo-Iweala lacks direct trade experience.

But she swiftly refuted the claim while addressing the WTO in July,saying

“I am a development economist and you cannot do that without looking at trade. Trade is a central part of development. So, I have been doing it. My whole career at the World Bank, I was working on trade policy reform in middle and low-income countries at the bank,” she said.

“As finance minister, the customs service in my country reported to me. And that is all about trade facilitation. I helped my country’s negotiation with my trade minister on the ECOWAS common external tariffs. I don’t know how much more trade you can have than that.

“So those who say I don’t have trade, they are mistaken. I think the qualities I have are even better, because I combine development economics with trade knowledge, along with finance, and you need those combination of skills to lead the WTO. I think I have the skills that are needed. I am a trade person”

On Wednesday, Okonjo-Iweala had won the popular vote to become the next DG and had the nod of the three ambassadors saddled with the responsibility of picking the next leader of the trade body.

But at a WTO delegates meeting to discuss the appointment, the US expressed opposition to her appointment.

Keith Rockwell, the spokesman of the WTO, said just one member country did not support Okonjo-Iweala.

“All of the delegations that expressed their views today expressed very strong support for the outcome, except for one,” he said.

The WTO reconvenes on November 9, 2020 after the US election to decide who becomes the next DG.

Source: TheCable


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