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Xinhua News Agency, Geneva, February 16 Topic: WTO “New Director” Announces Multilateral Governance Has High Hope
Xinhua News Agency reporter Ling Xin
After more than eight months of selection process, the 164 members of the World Trade Organization finally reached an agreement on the 15th, agreeing former Nigerian Finance Minister Ngozi Okonjo-Iweala as the seventh CEO. Analysts noted that, as a staunch defender of multilateralism and a seasoned manager of international organizations, Oconcho Iveala’s leadership at the WTO is expected to inject new impetus into multilateral trade governance.
The World Trade Organization officially appointed Ngozi Okonjo-Iweala as its new Director General on February 15. Issued by Xinhua News Agency (Photo by Li Ye)
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At the extraordinary meeting of the General Council of the World Trade Organization on the 15th, the president of the General Council, David Walker, expressed his “warmest congratulations” on the election of Oconjo Iveala. He stressed that this is a “critical moment” for the WTO and expressed his belief that all members will engage constructively with the Director-General to shape the future of the WTO.
WTO spokesman Keith Rockwell said in a press video conference held after the meeting that the General Council meeting lasted longer than before. Representatives from more than 80 WTO members spoke at the meeting to express their appreciation for the new president. The “warm support” of the officer.
Li Chenggang, China’s permanent representative to the WTO, said the joint decision made by all WTO members not only demonstrates confidence in the new Director-General, but also demonstrates confidence in the multilateral trading system.
Okonjo Iweala, 66, is a development economist. He served as Nigeria’s Minister of Finance twice in 2003 and 2011, and briefly served as Minister of Foreign Affairs in 2006. During his tenure, he displayed a strong reformist style and smart negotiating skills.
Okonjo-Iweala has extensive experience working on multilateral platforms. She has worked for the World Bank for 25 years and has served as Executive Vice President for a long time. In the field of public health, in addition to chairing the board of the Global Vaccine Alliance, she is also a special envoy for the international cooperation initiative “Accelerating the Accelerator of Tools to Combat COVID-19” led by the World. Health organization. She also served as a special envoy for the African Union, helping African countries coordinate international aid funds for the epidemic.
Support the multilateral
During the campaign, Okonjo Iweala emphasized that strengthening the multilateral trading system is in the interest of all countries, especially least developed countries and African countries. He said that multilateral trade has experienced difficulties and challenges in recent years. “The world needs a rejuvenated WTO more than ever.”
Analysts believe that, as a staunch supporter of multilateralism and a seasoned administrator of multilateral institutions, Oconcho-Iweala will inject new impetus into the governance of multilateral trade.
European Central Bank President Lagarde said he believes Oconjo Iweala’s strong will and determination will further his tireless efforts to promote free trade and benefit people around the world.
Pamela Kirk-Hamilton, executive director of the International Trade Center, also said that she will work closely with Oconjo-Iweala to revitalize the multilateral trading system, help the development of small, medium and micro enterprises, and make trade more inclusive.
The WTO is the central institution of the rules-based multilateral trading system. Since its inception 26 years ago, it has made important contributions to promoting economic growth, promoting trade development, and improving living standards. However, people in the trading community generally believe that the WTO is facing a real crisis of survival and that domestic reforms are urgently needed.
Okonjo-Iweala also stated that there is a need to implement reforms in the three pillars of the WTO, namely multilateral trade negotiations, dispute settlement mechanisms and trade policy oversight. Regarding multilateral negotiations, he emphasized that the WTO should not only strengthen existing rules through negotiations, but also work hard to formulate new rules involving digital trade and the green economy. As for the partially paralyzed dispute resolution mechanism, he said that although transformation, but obviously all members still need it. He also highlighted the need to increase the transparency of members’ trade policies and the efficiency of the permanent bodies and the WTO secretariat.
face the challenge
Former CEO Azevedo said before leaving office that the world economy is changing rapidly. For his successor, it is necessary to ensure the free flow of world trade, ensure the stability and predictability of the global trading environment, and promote rapid recovery. of the world economy and trade. It will be a great challenge.
The WTO previously predicted that due to the impact of the new corona epidemic, world trade in goods will contract by 9.2% in 2020. At the same time, due to the future development of the epidemic and possible prevention and control measures implemented by various countries. , the recovery prospects remain highly uncertain.
In this regard, Oconjo-Iweala said: “The world is at a very uncertain crossroads.” The future trajectory of the epidemic cannot be determined. It is necessary to ensure that the WTO makes its contribution to the multilateral trading system in the best possible way. your ability to contribute to the global economy Make a contribution.
During the epidemic, some countries’ trade restrictions on medical supplies and daily necessities have also hampered global solidarity in fighting the epidemic. In this regard, Okonjo-Iweala emphasized that it will work together with the WHO and the World Vaccine Alliance to ensure the global supply of vaccines. At the same time, intellectual property issues need to be considered to ensure that innovation and research are supported.
In an exclusive interview with a reporter for the Xinhua News Agency, he said that China can play an important role in the current global crisis involving health and the economy. In the field of health, China not only does not restrict the export of medical supplies and equipment, but also helps developing countries that cannot obtain these products. In the economic field, China’s rapid economic recovery has made an enormous contribution to the world. “China is one of the engines of world economic growth and has a great impact and contribution to the world economy.”
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【Editor in charge: Ma Junqing】
