💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Factbox: Who's bidding to be next World Trade Organization chief?

Published 06/08/2020, 04:58 AM
Updated 06/08/2020, 08:40 AM
© Reuters. World Trade Organization (WTO) in Geneva

GENEVA/BRUSSELS (Reuters) - The World Trade Organization (WTO) began the process on Monday of selecting a new director-general to replace Brazil's Roberto Azevedo, who is stepping down a year early at the end of August.

Azevedo's successor will need to steer reforms and negotiations in the face of rising protectionism, a deep recession caused by the COVID-19 pandemic and growing trade tensions, notably between the United States and China.

The Geneva-based body normally takes nine months to choose a new chief but now wants to do so in three. It prefers to pick a chief by consensus, moving to a vote only as a last resort.

Below is a summary of possible candidates:

AFRICA

Ngozi Okonjo-Iweala (Nigeria), board chair of global vaccine alliance Gavi

Okonjo-Iweala, 65, is an economist and development specialist who has served as Nigeria's foreign minister and finance minister as as a managing director of the World Bank. The former Harvard and MIT student's work has involved efforts to make immunisation programmes financially sustainable.

She did not respond to a request for comment.

Eloi Laourou (Benin), ambassador to the U.N. and WTO

Diplomat for 30 years and champion of the rights of poorer countries as ex-coordinator of a group of the least developed countries. Holding a doctorate in international law and international relations, he co-chairs a working group of French-speaking countries on trade and development.

He did not respond to a request for comment.

Hamid Mamdouh (Egypt), currently Geneva-based lawyer

A former trade negotiator for Egypt and ex-WTO official who helped draft an agreement on trade in services in the landmark Uruguay Round deal - an experience which he said gave him essential "bridge-building" skills.

Mamdouh, 67, is currently advising the G20 presidency, Saudi Arabia, on trade and investment matters. He confirmed his candidacy to Reuters and says he is backed by Egypt.

Amina Mohamed, (Kenya) sport and culture minister

Mohamed, 58, is a former Kenyan ambassador to the WTO who was the first woman to chair the WTO's General Council in 2005.

She ran for the director general post unsuccessfully in 2013. Her CV says she speaks four languages, has a law degree and is an "excellent strategist and visionary" who has advocated broad participation in the WTO reform process.

She did not respond to a request for comment.

EUROPE

Arancha Gonzalez Laya (Spain), Spanish foreign minister

A lawyer, she served as chief of staff to then-WTO chief Pascal Lamy between 2005 and 2013. Trade officials say she may be unacceptable to the U.S. administration given strained relations with Washington under Lamy's leadership.

Asked about her potential candidacy, she said she had a "full plate" with her current job.

Phil Hogan (Ireland), European trade commissioner

He is in his second role as a European commissioner, previously covering agriculture, and is considering a WTO bid . A politician of the centre-right Fine Gael party, he has also served as a minister in two Irish governments.

He advocates reform at the WTO, agreeing with the United States and Japan on the need to update global rules on industrial subsidies. But his own relations with Washington have been less cordial amid persistent transatlantic trade tension.

SOUTH AMERICA

Jesus Seade (Mexico), senior trade official in Mexican government

© Reuters. World Trade Organization (WTO) in Geneva

Mexico is set to propose Seade, who helped rework the North American Free Trade Agreement, sources said on Sunday. He previously worked at universities in Hong Kong.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.