Public Management

WTO: Ngozi Okonjo-Iweala Re-Elected Amid Major Global Trade Challenges

WTO: Ngozi Okonjo-Iweala Re-Elected Amid Major Global Trade Challenges
Monday, 02 December 2024 18:28

In September 2024, she officially announced her bid for a second term as head of the World Trade Organization (WTO). Now reappointed to her role, she faces significant challenges ahead.

Dr. Ngozi Okonjo-Iweala (photo) has been unanimously re-elected for a second term as Director-General of the World Trade Organization (WTO). The former Nigerian Minister was re-elected during a special WTO General Council held on Thursday, November 28, and Friday, November 29, 2024. As the sole candidate, she secured unanimous backing, reinforcing her position as the first woman and the first African to lead the organization since assuming office on March 1, 2021.

Her re-election follows a first term shaped by heightened trade tensions among the United States, Europe, and China, as well as economic crises stemming from the COVID-19 pandemic and the war in Ukraine. These challenges tested the WTO’s resilience but also allowed Okonjo-Iweala to stand out through her advocacy for ambitious reforms and fairer trade rules.

The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization,” said Ambassador Petter Ølberg, Chair of the WTO General Council.

Her second term, beginning on September 1, 2025, is expected to be pivotal. The Nigerian economist will need to navigate the global trade environment under the renewed presidency of Donald Trump, whose return to the White House could exacerbate already tense trade relations between the U.S. and China, further straining global commerce.

Reviving the WTO’s Appellate Body will also be a top priority. The mechanism, which has been paralyzed for years due to U.S. objections over alleged overreach, remains a critical hurdle to resolving trade disputes. Okonjo-Iweala will also focus on finalizing negotiations on fisheries subsidies and advancing other ongoing trade processes. Additionally, she will be closely watched for her role in facilitating the effective implementation of the African Continental Free Trade Area (AfCFTA).

After her tenure at the World Bank, Ngozi Okonjo-Iweala made history in 2003 by becoming Nigeria’s first female Finance Minister, where she gained recognition for her dedication to combating corruption. In 2006, she broke another barrier by serving as the country’s first female Foreign Minister before returning to the Finance Ministry later that same year, a position she held until 2011.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Zambia's stock index gained 14.3% in August and 56% YTD, driven by strong copper prices. Copperbelt Energy has maintained a market capitalization of...
Guaranty Trust Holding Company Plc (GTCO) has injected N365.9 billion ($238.5 million) into its subsidiary, Guaranty Trust Bank Limited (GTBank), to...
IFC may grant up to $20 million to CBI Ghana for a low-carbon cement plant in Tema. The $66.7 million project includes global investors...
Banque Agricole du Sénégal is raising CFA80 billion ($142 million) through a securitized bond. The offer includes a 7-year tranche A at 8% and...
Most Read
01

It’s a common scene in any Lomé (Togo) market, but it’s telling. A customer hands a 10,000 CFA franc...

The Change Shortage: A Crisis Hidden by the CFA Franc’s Stability
02

Egypt’s handset market is projected to leap from $2.5 billion in 2025 to $4.8 billion by...

Egypt’s $2.5B-to-$4.8B Smartphone Surge Set to Reshape Africa’s Tech Map by 2031
03

Burkina Faso ends Target Malaria, a GMO mosquito project funded by the Gates Foundation. The ...

Burkina Faso Halts a Malaria Program Backed by Bill and Melinda Gates Foundation
04

Egypt and UNECA launched a five-day workshop in Cairo to strengthen maritime tax audits and IFRS-b...

Egypt Bolsters Maritime Tax Collection With UN Economic Commission Training
05

Sadot and Vodacom’s MOTI launch Africa’s first telco-powered farm-to-fork app to cut crop losses a...

Sadot, Vodacom-Backed MOTI Launch Africa’s First Telco-Powered Farm-to-Fork App  
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.