{"id":565120,"date":"2021-03-21T13:45:53","date_gmt":"2021-03-21T13:45:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/what-to-expect-from-the-wtos-new-director-general\/"},"modified":"2021-03-21T13:45:53","modified_gmt":"2021-03-21T13:45:53","slug":"what-to-expect-from-the-wtos-new-director-general","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/what-to-expect-from-the-wtos-new-director-general\/","title":{"rendered":"What to expect from the WTO\u2019s new director-general"},"content":{"rendered":"

<\/a> Ngozi Okonjo-Iweala\u2019s World Trade Organization:<\/strong> In a year of travel and trade disruptions, the World Trade Organization\u2019s (WTO) role has been increasingly scrutinized. Many have questioned whether the organization can remain effective amid a rise in protectionism (most recently manifested in the vaccine protectionism<\/a> hampering global rollouts) and the increasing weaponization of trade by the world\u2019s two most powerful countries. Created in 1995 to oversee trade rules among nations, the WTO suffered a crisis of leadership after its director-general, Roberto Azavedo, stepped down last year<\/a>, leaving the organization leaderless \u2014 until the election of Joe Biden to the US presidency paved the way<\/a> for the appointment of Nigerian economist Ngozi Okonjo-Iweala in February<\/a>.<\/p>\n

New face, new life?<\/strong> Okonjo-Iweala is the first woman, and first African, to head the WTO, and her appointment was heralded by some as a chance to breathe new life into the organization. With all eyes on her as she takes the helm, key issues she is expected to move on include:<\/p>\n

#1 - Getting the <\/strong>appellate body<\/a><\/strong> back on track:<\/strong> The WTO\u2019s dispute settlement system has been paralyzed since the Trump administration vetoed<\/a> the appointment of new members to its vacant seats, claiming that the seven-member body\u2019s rulings are routinely harmful to US interests.<\/a> \u201cA refreshed WTO must find solutions to the stalemate on disputes settlement,\u201d Okonjo-Iweala said during a speech at a conference before her appointment<\/a>.<\/p>\n

A key goal will be appointing new adjudicators so it can accept new appeals and issue legally binding decisions on international trade disputes.<\/strong> Though Trump\u2019s is not the only US administration, historically speaking, to have blocked appointments to the appellate body, the Biden administration may prove more amenable to a compromise. Okonjo-Iweala has also referenced \u201cupdating the rulebook\u201d for the body, which may imply that she intends to change the mechanism whereby one country can block the functioning of the dispute settlement process altogether.<\/p>\n

#2- Holding China to account: <\/strong>China\u2019s refusal to adhere to some requirements of the WTO (which it joined in 2001) has been a sore spot for members, particularly the US, whose representatives have claimed the WTO has let China get away with intellectual property theft<\/a> when it comes to US tech. China\u2019s high tariffs and other non-tariff barriers<\/a> have meant that some sectors of the economy are still insulated from international trade and competition, contravening WTO rules.<\/p>\n

Okonjo-Iweala has implied that she will be taking a softer approach than some would hope on China\u2019s non-compliance<\/strong>, saying that she will ensure all members feel their balance of rights and obligations are fair, implying she doesn\u2019t plan to push very hard on China to adhere to the WTO\u2019s policies. On curbing sanctions between the US and China, Okonjo-Iweala said, \u201cit is very clear that both the US and China have been helped by the multilateral trading system in the past,\u201d and that her approach will involve reminding both sides of shared trade benefits<\/a> and listening to China\u2019s grievances.<\/p>\n

#3- Ensuring the unhindered movement of vaccines and medicines: <\/strong>As the former chairperson of vaccine alliance Gavi, ensuring the movement of vaccines and medicines will be one of Okonjo-Iweala\u2019s top priorities. \u201cIn the longer term we have to make sure we have an open, flexible trading system that allows imports or exports of these medicines and medical supplies and vaccines to countries that cannot manufacture them,\u201d she said. In another sense, helping economies bounce back from the effects of covid-19 by using trade as an instrument of economic recovery is also on Okonjo-Iweala\u2019s roster.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ngozi Okonjo-Iweala\u2019s World Trade Organization: In a year of travel and trade disruptions, the World Trade Organization\u2019s (WTO) role has been increasingly scrutinized. Many have questioned whether the organization can remain effective amid a rise in protectionism (most recently manifested in the vaccine protectionism hampering global rollouts) and the increasing weaponization of trade by the […]<\/p>\n","protected":false},"author":1,"featured_media":565121,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9277],"tags":[116,633,1108,3157,132,117,715],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-on-the-horizon","tag-china","tag-enterprisepm","tag-ngozi-okonjo-iweala","tag-on-the-horizon","tag-trade","tag-us","tag-world-trade-organization","wpautop","entry"],"acf":{"mongo_id":"3dea46bb-f823-4c68-91b0-dae7acb00dc4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/509.jpg","photo_position":"above","related_issue":[565109],"teaser":"","voice_url":""},"yoast_head":"\nWhat to expect from the WTO\u2019s new director-general - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/what-to-expect-from-the-wtos-new-director-general\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to expect from the WTO\u2019s new director-general\" \/>\n<meta property=\"og:description\" content=\"Ngozi Okonjo-Iweala\u2019s World Trade Organization: In a year of travel and trade disruptions, the World Trade Organization\u2019s (WTO) role has been increasingly scrutinized. 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A\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543997,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/omicron-is-prolonging-the-supply-chain-crisis-the-controversial-beijing-olympics-kick-off-on-friday\/","url_meta":{"origin":565120,"position":3},"title":"Omicron is prolonging the supply chain crisis + The controversial Beijing Olympics kick off on Friday","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Omicron is slowing down the resolution of the global supply chain crunch, which World Trade Organization head Ngozi Okonjo-Iweala still sees as temporary, despite the anticipated recovery taking longer than expected, according to the Financial Times. The new variant has halted some production and transport in China, and impacted global\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/401.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545400,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/export-controls-could-exacerbate-the-global-food-crisis-is-elon-musk-going-to-create-our-next-facebook\/","url_meta":{"origin":565120,"position":4},"title":"Export controls could exacerbate the global food crisis + Is Elon Musk going to create our next Facebook?","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"Export controls could exacerbate the global food crisis, WTO warns: The Russia-Ukraine war has caused commodity and energy prices to skyrocket in recent weeks, leading many countries to respond with export restrictions as they look to secure their domestic needs. So far, 12 WTO member countries have imposed export restrictions\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/567.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555988,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/global-trade-forecasts-for-the-coming-year-are-on-the-up-wto-says\/","url_meta":{"origin":565120,"position":5},"title":"Global trade forecasts for the coming year are on the up, WTO says","author":"enterpriseam admin","date":"5 October 2021","format":false,"excerpt":"Things are looking up for global trade: The World Trade Organization (WTO) raised its 2021 and 2022 global merchandise trade forecasts, with the 2021 prediction currently sitting at 10.8% from the previously forecasted 8% and 2022 forecasts increasing to 4.7% from 4%, according to WTO statement. \u201cThis strong growth underscores\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565120"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565120\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565121"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565120"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565120"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}