Okonjo-Iweala Announces Bid for Second Term as WTO DG

The current Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala has officially announced her intention to seek a second term.

Her first term began on March 1, 2021, making her the first woman and the first African to hold this prestigious position. As she approaches the end of her initial term, which is set to expire on August 31, 2025, Okonjo-Iweala aims to address several key issues that remain unresolved.

In her announcement, Okonjo-Iweala emphasized her commitment to completing "unfinished business" from her first mandate. Among her priorities are finalizing a deal on ending fisheries subsidies, advancing global agriculture negotiations, and reforming the WTO's dispute resolution system. She also highlighted the importance of decarbonizing trade as part of her agenda for the next term.

Okonjo-Iweala's candidacy for a second term has garnered massive support, particularly from African nations, who initiated the push to start the re-election process early. This move was partly motivated by the upcoming U.S. presidential election in November, with the aim of securing her position ahead of potential political shifts.

Reflecting on her tenure, Okonjo-Iweala acknowledged the challenges she faced, describing the role as "very tough" amid ongoing trade tensions among the WTO's 166 member states.

Despite these difficulties, she expressed her dedication to the job, stating, "It is tough, you know, very tough. There's no getting away from that. But it's also a job that makes me want to get out of bed in the morning."

During her first term, Okonjo-Iweala achieved notable successes, including the first part of a global treaty on cutting fishing subsidies agreed upon in 2022. However, some agreements, such as a follow-up fishing deal, have been blocked by individual member states, most notably India.

As she prepares for the possibility of a second term, Okonjo-Iweala remains focused on delivering tangible results and fostering consensus among WTO members. Her extensive background, including her previous roles as Nigeria's Finance Minister and a Managing Director at the World Bank, positions her as a seasoned leader capable of navigating the complexities of global trade.