Business: EU Supports Okonjo-Iweala to Lead the WTO

Mrs Okonjo- Iweala and Yoo Myung-hee, South Korea’s candidate had previously been the EU’s two most preferred candidates in the selection process that began on September 7 when member countries started indicating their preferred candidates.

The EU official said the decision is a strong signal to reinforce the multilateral order and a sign of mutual trust between the bloc and Africa.

The European Parliament, the legislative branch of the EU, has endorsed Okonjo-Iweala, saying her “political approach is needed” to resolve the WTO’s challenges and deal disagreements between its members.

The trade organisation faces dual challenges; criticism from US President Donald Trump’s administration has been challenges blocking its appointment of judges, and worsening US-China trade relations.

There is hope that the next WTO DG will be announced on November 7.

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