The nomination of a new director general of the World Trade Organization is entering it’s final stage with two female finalists from an initial list of eight candidates which are, Nigerian’s former finance minister, Ngozi Okonjo-Iweala and a South Korean trade minister Yoo Myung-hee.
Both are females which means that if members of the World Trade Organization can rally round for one of them in the final stages of selection, it will be the first time the job has been handled by a woman.
Ms Okonjo-Iweala and Ms Yoo are both politically and internationally grounded and were both students at American Universities.
Ms Okonjo-Iweala, who also is a US citizen, has had two positions as finance minister and a short time opportunity as foreign minister in Nigeria. Much of her career was put into the World Bank as an economist. She eventually, rose to the position of managing director, particularly second in command at the institution. She has had several failed attempts as a candidate for the top position at the bank. She is currently chair of the board of the International Vaccines Alliance, Gavi.
She has never been involved in the detail of trade policy as some other candidates were. But her work as a development economist and finance minister means she has often had to deal with International trade. She describes trade as “a mission and a passion”. Ms Okonjo-Iweala would be the first African to be director general of the WTO if selected.
Ms Yoo is much more of a trade specialist. Her words to the WTO’s general council clinged at the literal lifetime in the area- she said she was born the same year that South Korea acceded to the General Agreement on Tarriffs and Trade, which became one of the key elements of the WTO’s rule book. She started her career in trade, she said, in the year the WTO was birthed, 1995. She has been involved in some of South Key trade negotiations in that period, including with China and the US. She makes a point of her “deep knowledge and insight into the details of various trade agreements”.
Both candidates were keen to point out their abilities in bringing sides together in negotiations. That is a skill a successful candidate will have to hinge on extensively. It is important to remember that a WTO director general can only make progress if they can get the member countries on board, especially two of the biggest commercial powers on planet, China and US who are currently having trade issues.
In terms of diversity, the WTO are about to set a new record. It will almost certainly, have a woman as director general for the first time.
The regional representation might also break new ground, if the African candidate, Okonjo-Iweala gets the job- there have been an Asian director general before, from Thialand.
If all goes to plan, we will know who it is by early November.
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