• Contact Us
  • About Us
Tuesday, August 26, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

Why WTO Fails To Agree On Interim Leader

metro by metro
July 31, 2020
in Economy
0
0
SHARES
0
VIEWS

  As the November race for the coveted leadership position of the World Trade Organization (WTO) hots up, the Geneva based body has failed to select a caretaker chief due to impasse among members, reports Reuters.
Nigeria is pushing for Ngozi Okonjo-Iwela as possible successor to the outgoing Director-General Roberto Azevedo.
However, the new leader has to be chosen by November 7.
The development, according to some analysts portends serious danger to the emergence of a leader in November due to serious disagreements among members who are yet to decide on a concensus candidate for the body.
In fact, Reuters reported on Wednesday that the WTO was unlikely to fill a leadership void after Washington’s insistence on a U.S. candidate.
The interim chief would normally have been one of the four deputy director-generals who are from China, Germany, Nigeria and the United States. The WTO said on Friday they would instead all stay on in their existing roles.
“The original effort was to try and designate an acting director-general among the four… That was not possible. We were not able to get a consensus on that,” WTO spokesman Keith Rockwell told a briefing.
“The current director-general Roberto Azevedo said it was disappointing. ”
The role would be largely administrative for a couple of months. However, one potential difficulty concerns the WTO’s role in settling disputes. If parties to a case cannot agree on the composition of a three-person adjudicating panel, as is often the case, the director-general can step in to select them.
WTO members also agreed on Friday that they would select the future director-general by cutting the initial field of eight to five, then to two before a final decision is taken.
The WTO’s 164 members would be invited to select four preferred candidates in the first round running from Sept 7-16.
A “troika” of ambassadors which chairs the WTO’s main committees would determine which candidates have wide-ranging support across regions and from least developing to developed countries.

Read Also

Dollar, Longer-dated Treasuries, Others Slide As Trump Escalates Attack On Fed, Russia-Ukrainan Supply Concerns

Mixed Reactions Trail FG’s Medium-Term Debt Strategy, Analysts List Path To Sustainable Development

Hope Rises For Nigeria’s Currency As Dollar Drops On Powell’s Points To Possible September Rate Cut

Previous Post

After COVID-19, Will Africa Catch Up, Stand Still or Fall Further Behind?

Next Post

Buhari Finally Reacts To NDDC, EFCC Investigations, Accuses Appointees Of Trust Abuse

Related Posts

Trump
Economy

Dollar, Longer-dated Treasuries, Others Slide As Trump Escalates Attack On Fed, Russia-Ukrainan Supply Concerns

August 26, 2025
FG To Start Paying Debt Service As Nigerian Economy Grows By 2.99% In Q1 2024-Edun
Economy

Mixed Reactions Trail FG’s Medium-Term Debt Strategy, Analysts List Path To Sustainable Development

August 25, 2025
Nigeria’s Banking Recapitalization: A ‘Too Big To Fail’ Scenario In The Making?”
Economy

Hope Rises For Nigeria’s Currency As Dollar Drops On Powell’s Points To Possible September Rate Cut

August 22, 2025
Uneasy Calm In Banking Industry Over FG Special Investigator’s Report
Economy

Commendations As CBN Plans Prosecution Of FX Deal Violators After Audit

August 7, 2025
Next Post

Buhari Finally Reacts To NDDC, EFCC Investigations, Accuses Appointees Of Trust Abuse

NUPRC Extends 2024 Licencing Registration Bid Round By 10 Days

NUPRC: Nigeria’s Crude oil Output Rises 10% To 1.71m Bpd In July, Yet To Meet 2025 Budget’s 2.06m Target

August 26, 2025
Falana Says Proposed Pay Rise For Politicians Insensitive, Ohanaeze Warns Of Public Backlash

Falana Says Proposed Pay Rise For Politicians Insensitive, Ohanaeze Warns Of Public Backlash

August 26, 2025

Choosing a broker? Here are the 5 signs of a reliable platform

August 26, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version