Ngozi Okonjo-Iweala, the seventh Director-General of the World Trade Organization (WTO), announced her candidacy for a new term on September 16. The former Nigerian finance minister expressed her intention to complete “unfinished business” from her initial mandate. Okonjo-Iweala’s current term is set to expire on August 31, 2025. Her early announcement is seen by some analysts as a strategic move to secure her second term before the upcoming U.S. presidential elections in November.
At 70, Okonjo-Iweala has already made history as the first female and African leader of the WTO. Her appointment in 2021 marked a significant milestone for the international trade body. By tradition, the WTO selects its Director-General by consensus, requiring the approval of all 165 member countries. However, the process can be influenced by the major stakeholders within the organization.
In 2021, Okonjo-Iweala’s path to becoming WTO Director-General faced a temporary setback when the U.S. administration under then-President Donald Trump blocked her nomination. The situation changed with the election of President Joe Biden, who supported her candidacy, leading to her eventual appointment.
The proposal for Okonjo-Iweala’s second term was made by African nations at the WTO last July, reflecting continued support from her home continent. The WTO, which oversees the global trading system and its rules, plays a critical role in international commerce. The Director-General’s role is crucial in steering the organization through complex global trade issues and disputes.
As Okonjo-Iweala seeks re-election, her bid highlights the ongoing importance of leadership stability in managing global trade challenges. Her previous term involved addressing significant issues such as trade tensions, the impact of the COVID-19 pandemic on global trade, and efforts to reform the WTO’s dispute resolution mechanisms.
Her early announcement for a second term is seen as a proactive step to build support and solidify her position ahead of potential political shifts in key member countries. The process of securing a new term as WTO Director-General will involve negotiations and consensus-building among member states, each of which has its own interests and priorities.
As the WTO navigates a complex global trade landscape, Okonjo-Iweala’s leadership and experience will be pivotal in addressing emerging challenges and fostering cooperation among member countries. Her bid for a second term is a significant moment for the WTO, underscoring the importance of effective leadership in shaping the future of global trade.
