WTO chief Okonjo-Iweala reinstated for second term as trade wars loom

WORLD Trade Organization chief Ngozi Okonjo-Iweala was reappointed for a second term at a special meeting on Friday (Nov 29), the trade watchdog said in a statement, meaning her second term will coincide with US President-elect Donald Trump’s.

Trade sources expect the road ahead for the 30-year-old organisation to be challenging and most likely characterised by trade wars, with Trump threatening hefty tariffs on goods from Mexico, Canada and China.

The World Trade Organization chief said she is eager to work with the incoming Trump administration and that she would take a “constructive and creative” approach.

“We are looking forward to working with the new administration. I think we should come into things with a very constructive and creative approach to trying to deal with the issues that will face the world trading system,” said Okonjo-Iweala in a press briefing after she was reappointed for a second term.

Okonjo-Iweala, a former Nigerian finance minister who made history in 2021 by becoming the body’s first female and first African director-general, has broad backing among WTO members.

She announced in September that she would run again, aiming to complete “unfinished business”.

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No other candidates ran against her.

Trade sources said the meeting created a means of fast-tracking her appointment process to avoid any risk of it being blocked by Trump, whose teams and allies have criticised both Okonjo-Iweala and the WTO in the past.

In 2020, his administration gave its support to a rival candidate and sought to block her first term. She secured US backing only when President Joe Biden succeeded Trump in the White House. REUTERS