Ngozi Okonjo-Iweala Poised to Become the First Black Woman to Lead the World Trade Organization

Nigeria’s Ngozi Okonjo-Iweala is finally set to become the first Black woman leader of the World Trade Organization after a South Korean rival pulled out of the race for the position.

The South Korean trade minister Yoo Myung-hee was previously considered for the position as she had the backing of former US President Donald Trump. In a televised briefing on Friday, the minister announced her decision to pull out of the race. She said her decision was based on a “close consultation” with the United States.

Okonjo-Iweala who is a renowned Nigerian economist and former minister of finance in Nigeria had strong support from WTO member nations, including the European Union, Japan, China, and Australia.

“She is this wonderful, soft, very gentle woman with an authentic approach to problems but, boy, under that soft glove there is a hard hand and a strong will behind it,” said Christine Lagarde, European Central Bank President, in an interview. “She is going to rock the place.”

Under the Trump administration, Okonjo-Iweala’s chance of becoming the next WTO leader was under threat, as Trump favored Yoo. This led to a complication in the decision-making process since the appointment required a unanimous vote among all members.

The WTO is tasked with the responsibility of promoting free trade in the world and has been without a leader since the former director-general Roberto Azevêdo stepped down a year earlier before his tenure expired. At the time, the WTO was trapped in the middle of an intense trade war between the United States and China.

In August, after the former WTO director-general resigned from his position, Okonjo-Iweala told CNN that trade is an effective tool to be used in the recovery from the coronavirus pandemic.

“The WTO needs a leader at this time. It needs a fresh look, a fresh face, an outsider, someone with the capacity to implement reforms and to work with members to make sure the WTO comes out of the partial paralysis that it’s in,” Okonjo-Iweala said.

With a visionary leader like Okonjo-Iweala, the WTO hopes to restore its standing in member states. She has pledged to find common ground among the WTO disparate membership and make some early negotiations such as multilateral accord, among others.

During the Trump administration, the former president undermined the efficiency of the WTO and placed imposing tariffs on Canada, China, Mexico, and the European Union.

US President Joe Biden is currently making moves to reinstate multilateral institutions but will tread carefully when it comes to signing new trade deals. In a speech on Thursday, Biden pledged to restore diplomacy to the US foreign policy. However, he added that foreign policy must benefit middle-class Americans.

For 25 years, Okonjo-Iweala worked at the World Bank as a development economist until she rose to the position of managing director. She served as the finance minister of Nigeria, and chaired the board of Gavi, an organization helping to distribute coronavirus vaccines globally.