By Olanrewaju Adesanya
Dr.Ngozi Okonjo-Iweala the new Director General of World Trade Organisation(WTO), has been counseled to use her new office to urgently address the intractable trade wars among leading economies and ensure free flow of goods, especially protective gears drugs and vaccines to halt further spread of COVID-19 pandemic.
This advices on the ways forward for WTO was communicated by the Director General of the Manufacturer Association of Nigeria (MAN) Mr. Segun Ajayi-Kadir.
An elated Ajayi-Kadir while reacting to the development cited the fact that the new feat of the Okonjo-Iweala is topical in that she is the first African and first female Director-General of the international body in its 25-year history!
“There is no doubt that the WTO is in need of major reforms. So the experience and expertise Okonjo-Iweala is bringing to the Organisation will provide the needed guidance to forge the reforms. She has real ands-on experience in the field, both at National and international levels.
“As you are aware, the African Continental Free Trade Area Agreement (AfCFTA) which will cover a market of 1.2 billion people and a gross domestic product (GDP) of more than $3 trillion would need the support of her expertise for a smooth take-off and steady success as a huge component of the world economy.
He added that a fair deal awaits the African continent due to the new development, upon which better leverage can be explored.
“While not guaranteeing unmerited advantages and disproportionate treatment, having an African at the helm of affairs in the WTO should give some comfort of understanding and assuage the noticeable anxieties of African countries in the world trade parlance.
“If you like, it may embolden the exploits of African nations when striking deals with the rest of the world.
“So a lot of work awaits her. There has to be substantial changes in deciding and enforcing the rules of global trade.
“The blow dealt by Trump in refusing the appointment of new judges has handicapped its appellate system and ability to settle disputes. Being a consensus driven system, rules that require members’ approval were easily thwarted.
“Okonjo-Iweala will have to immediately ensure ease of the flow of goods, particularly protective gear, drugs and vaccines, etc to fight the COVID-19 Pandemic.
“So she needs to sort out the so called vaccine nationalism and negotiate the flow of this viral medicament to reach all nations, including the poorer ones.
“She needs to contend with and find solutions to the seemingly intractable trade wars among the leading world economies, while ensuring fairness for the less developed and underdeveloped ones.
“This is a plus for our country in the international community and a welcome development for Africa, with the onset of the African Continental Free Trade Agreement.
“There is also an international dimension to this. As you are aware, President Trump was vehemently against her candidacy.
“So her emergence is one of the gains of the defeat of Trump. And for President Biden, the fact that we have Okonjo-Iweala as the DG of the WTO today represents a distinguishing trade policy from the Trump era and a fulfillment of his promise to revive international cooperation.
“I congratulate Mr. President for this feat and commend him for the dogged support he rallied for her,” said Ajayi-Kadir.