Dr. Ngozi Okonjo Iweala, Director General designate of the World Trade Organisation (WTO), has said that she will be pursuing three major programmes as she resumes as the new director general of the WTO on March 1, 2021. Her tenure is to last from March 1, 2021 to August 2025, according to a statement from the world trade regulatory body.
In a virtual press conference on Tuesday, Dr. Iweala told the world media who gathered virtually that upon her resumption, she will ensure the WTO works with the World Health Organisation (WHO) to accelerate the production and supply of COVID-19 vaccines to poor countries around the world. She noted that the WTO will fashion out ways to solve the problem of the pandemic.
She said it is important that member countries come out of the pandemic to create way for free flow of medicals, goods and services so as to deal with public health emergency, saying the economic revival of the globe without trade will be impossible. She added that “whatever we do at WTO must benefit all members both small, medium and great.”
She said the WTO will consider the export restrictions and prohibitions from the 164 member countries. She told journalists that as at present, there are 100 countries that still have various export restrictions and prohibitions. She will look at ways of lifting the restrictions to pave way for free trade among member countries.
Dr. Okonjo Iweala said upon resumption she would find ways in which vaccines could be manufactured in many more countries while not discouraging research and innovations which are linked to intellectual properties.
She said she would work on the dispute settlement system which, according to her, is the jewel of the World Trade Organisation. In this regard, she said there is no need agreeing on more rules when the existing rules have not been strengthened for effective and acceptable dispute resolution among member countries.
She said this will be her priority while working on reforms and allowing member countries to come up with dispute settlement modalities. She also said the rules will be modernized and bring them up to the 21st century issues. She added: “We have to look at the digital economy which has become so prominent during the COVID-19 pandemic.” She also said e-commerce will grow in leaps and bound as she progresses in office.
She said as at present the World Trade Organisation does not have rules that underpin e-commerce, hence those rules will be put in place and the negotiations will be completed. She is insisting that the marginalized group, which includes women and the micro and medium enterprises will be incorporated.
Dr. Okonjo, who commended the 164 member countries for finding her fit for the job, especially President Joe Biden of the United States who lifted the logjam by the defeated Donald Trump, said though WTO is facing challenges, she will work to ensure deep and wide changing reforms which will renew trust of members in the organization and among each other.
She said the issue of lack of trust among member countries will also be in the front burner, an issue which she said has built up over the years, not just with the United States and China or the US and the European Union but among developed and developing nations. She said the trust needed to be built if the needed reforms are to achieve their goals.
On her support for Africa, Okonjo Iweala said she is not only DG for African members but for all the 164 member nations but added that Africa is in unique junction which is implementing the freest trade agreement in the world. She said the rules of the WTO have been the inspiration for the design of the African trade agreement. Hence, she said the WTO has already lent its institution to help Africa.
However, she said technical assistance to help break logjam will be given. She added that WTO is pushing to get investment in the African continent but noted that the African leaders should play their part to make conditions hospitable for investment in the continent.
She said being the first black and first woman heading the organization, she needed to get results and perform, adding that if she must make women and Africa proud she must get results.
