Written by Jeremy Lavala Wiles and Joseph Beyan Wiles
Honorable Ngozi Okonjo-Iweala was selected as the next Director-General of The World Trade Organization beginning next. This makes her the FIRST woman and AFRICAN to hold this position in organization history.
Director-General Okonjo-Iweala has a long history of public service and private equity leadership; serving as Nigeria’s finance minister, between the years of 2003-2006 and 2011-2015.
To add to that, Ahe has Also dedicated herself to a 25-year career at the World Bank, as their leading development economist whose portfolio included an $81 Billion operation budget. While at the World Bank, she had risen to the No. 2 position of Managing Director.
A large portion of her efforts have gone towards. helping in improving health care resources for women and children in developing countries. Of course, Dr. Okonio-Iweala has a laundry list of accomplishments which includes:
Bishop John T. Walker Distinguished Humanitarian Service Award (2011) award presented annually by Africare to recognize those whose work has made a significant impact on raising the standard of living in Africa.
The David Rockefeller Bridging Leadership Award (2014) recognizes leaders who exemplify this inclusive approach to solving complex problems.
The Devex Power with Purpose Award (2016) global development leaders who are innovating and shaping the business of development and working hard toward a singular mission: to make the world a better place.
The Global Fairness Award (2016) The award ceremony honors exceptional leaders whose work and life have opened opportunity and access for the working poor throughout the world. By honoring these outstanding individuals, GFI looks to inspire a new generation of leaders to dedicate themselves to economic justice, fairness, and equality.
The Columbia University Global Leadership Award (2011) Awards recognize individuals and organizations that have made exceptional contributions to the global public good through their work in public, private, and non-profit sectors.
What is World Trade Organization?
“The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.
“Each member receives guarantees that its exports will be treated fairly and consistently in other members’ markets
Through these agreements, WTO members operate a non-discriminatory trading system that spells out their rights and their obligations.
Each member receives guarantees that its exports will be treated fairly and consistently in other members’ markets.
Each promises to do the same for imports into its market. The system also gives developing economies some flexibility in implementing their commitments”
General Functions Include:
- Administering WTO trade agreements
- Forum for trade negotiations
- Handling trade disputes
- Monitoring trade policies
- Technical assistance and training for developing economies
- Cooperation with other international organizations
WTO History SnapShot
ESTABLISHED: 1 January 1995
CREATED BY: Uruguay Round negotiations (1986-94)
MEMBERSHIP: 164 members representing 98% of world trade (as of 30 Sept 2018)
BUDGET: 197 million Swiss francs for 2018
So yeah, she’s kind of like a big deal. Thank you Director-General Dr.Okonio-Iweala for your admirable efforts, dedication, and ability to pioneer a career in economics, private equity, and public service.
Written By Jeremy Wiles
Editor By Joseph Wiles