Global Trade: 7 Facts About Nigeria's Okonjo-Iweala's Historic Job At WTO

Nigeria’s former minister of finance was appointed following the decision that was taken at a special meeting of the General Council on Monday, February 15. Okonjo-Iweala's appointment is a historic achievement as she is the first woman and first African to head the organization.

 Okonjo-Iweala job at WTO will include supervising and directing administrative operations. 

 It would be recalled that the former minister secured the popular vote by a wide margin on October 28, 2020, but was not named DG because the US opposed her candidacy. 

Fortunately, she became the only candidate vying for the position following the withdrawal of her major contender and South Korean trade minister, Yoo Myung-hee. 

As congratulatory messages are pouring in, VAM News gathers some significant facts about the former minister's new job. 

They are;

 1. The position holds almost no formal power as it is primarily advisory and managerial. 

2. Okonjo-Iweala is responsible for supervising and directing administrative operations of the organization. 

3. She cannot single-handedly reform the organisation, force governments to take any specific action or even dictate the agenda. 

4. The former minister's new position has an important role in advancing global trade and cooperation. 

5. Despite little formal power, Okonjo-Iweala is the only person who can speak up for the WTO. 

6. The difference between the success and failure in a negotiation can be the WTO director-general. 

7. She can make discussions, debates and negotiations more inclusive and democratic. 

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