First Lady congratulates WTO DG, Okonjo-Iweala

The Nigerian First Lady, Senator Oluremi Tinubu, on November 29th, 2024, congratulated the newly reappointed Director-General of World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala.

Senator Oluremi took to her X handle to extend her congratulatory message to WTO DG.

She applauded Dr. Okonjo-Iweala’s leadership skill and dedication.

She went on to acknowledge the DG’s efforts towards representing Nigeria and Africa at large, well.

The X tweets reads: “I extend my heartfelt congratulations to you, Dr. Ngozi Okonjo-Iweala on your reappointment as Director-General of the World Trade Organization for a second term.

“This achievement is a testament to your exemplary leadership, unwavering dedication, and the trust placed in you by the global community.

“Your efforts have brought pride to Nigeria and Africa as a whole.

“Your commitment to fostering economic resilience, promoting equity, and driving progress through multilateral cooperation resonates deeply with our aspirations as a nation”, it stated.

Senator Oluremi stated that Okonjo-Iweala’s success inspires into other young ones and women the power of determination, hard work and excellence.

“Your success not only enhances global trade but also inspires millions across the world, particularly women and young girls, who see in you the power of hard work, determination and excellence.

“Congratulations once again on this well-deserved recognition.

“May you continue to be a beacon of hope and progress for women and humanity”, it concluded.

Okonjo-Iweala reppointed as WTO Director-General

On November 29, 2024, Dr. Ngozi Okonjo-Iweala was reappointed as the Director-General of the World Trade Organization (WTO).

According to sources, Okonjo-Iweala was the first African and the first woman to lead the World Trade Organization in 2021.

Her reappointment has been heralded as a significant turning point for Nigeria and Africa in general.

Analysts claim that it demonstrated that Africans might be successful in foreign roles and make a big impact on the world stage.

They continued by saying that Okonjo-Iweala’s historic reappointment has been commended for her exceptional leadership and unwavering dedication to promoting global trade and economic development.

According to reports, Okonjo-Iweala set up a WTO agenda that looked to the future.

During her first term, she reportedly increased the organization’s ability to support its members.

One of her most notable achievements has been securing important outcomes at pivotal moments, such the 12th and 13th Ministerial Conferences (MC12 and MC13).

Others concentrate on addressing widespread worldwide concerns such as the COVID-19 pandemic and climate change, as well as promoting trade as a driver of economic expansion and resilience.

According to analysts, Okonjo-Iweala faces numerous challenges as she begins her second term.

Resolving the current global economic crisis, promoting trade facilitation and lowering trade barriers, and supporting the development of poor countries are some of these challenges, as they indicated.

The reappointment of Ngozi Okonjo-Iweala as director general of the World Trade Organization is a significant win for Nigeria,  Africa, and the international trade community. according to the source.

World Trade Organization (WTO)

The World Trade Organization (WTO) is an intergovernmental organization that aims to promote free trade and economic cooperation among its member countries.

The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was established in 1947.

The WTO was established on January 1, 1995, as a result of the Uruguay Round of trade negotiations.

The organization is headquartered in Geneva, Switzerland.

Objectives of WTO

The main objectives of the WTO are:

1. To promote free trade: The WTO aims to reduce trade barriers and promote free trade among its member countries.

2. To promote economic cooperation: The WTO seeks to promote economic cooperation among its member countries, with the aim of achieving sustainable economic growth and development.

3. To settle trade disputes: The WTO provides a framework for settling trade disputes among its member countries.

Functions of WTO

The WTO performs several key functions, including:

1. Trade negotiations: The WTO provides a forum for trade negotiations among its member countries.

2. Trade dispute settlement: The WTO provides a framework for settling trade disputes among its member countries.

3. Trade policy review: The WTO conducts regular reviews of the trade policies of its member countries.

4. Technical assistance: The WTO provides technical assistance to its member countries, particularly developing countries, to help them build their trade capacity.

Structure of WTO

The WTO has a complex structure, which includes:

1. Ministerial Conference: The Ministerial Conference is the highest decision-making body of the WTO, which meets every two years.

2. General Council: The General Council is the main decision-making body of the WTO, which meets regularly to discuss trade issues.

3. Council for Trade in Goods: The Council for Trade in Goods is responsible for overseeing the implementation of the WTO’s agreements on trade in goods.

4. Council for Trade in Services: The Council for Trade in Services is responsible for overseeing the implementation of the WTO’s agreements on trade in services.

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