London Daily

Focus on the big picture.
Wednesday, Oct 22, 2025

World Trade Body To Have Its First Woman Leader Soon

World Trade Body To Have Its First Woman Leader Soon

They saw off competition from Britain's Liam Fox, Kenya's Amina Mohamed and Saudi Arabia's Mohammad al-Tuwaijri in the second round of the battle to become the next director-general of the WTO.
The World Trade Organization is set to have its first female leader after Nigeria's Ngozi Okonjo-Iweala and South Korea's Yoo Myung-hee made it through Thursday to the final run-off, a WTO spokesman announced.

They saw off competition from Britain's Liam Fox, Kenya's Amina Mohamed and Saudi Arabia's Mohammad al-Tuwaijri in the second round of the battle to become the next director-general of the WTO.

"Ngozi Okonjo-Iweala of Nigeria and Korean minister Yoo Myung-hee will advance to the third and final stage of consultations," WTO spokesman Keith Rockwell told reporters at the global trade body's headquarters in Geneva, following a meeting where the news was announced to member states.

"The third stage will run from October 19 to October 27," he said, with a winner to be announced before November 7.

The initial pool of eight candidates to replace Brazilian career diplomat Roberto Azevedo, who stepped down as WTO chief in August a year ahead of schedule, was narrowed down to five in last month's first round.

Rather than straightforward elections, the WTO eliminates is leadership candidates through a process of consensus and preferences.

Okonjo-Iweala and Yoo's candidacies received a boost earlier this week when EU member states officially threw their weight behind them.

Okonjo-Iweala, 66, served as her country's first female finance and foreign minister, and has a 25-year career behind her as a development economist at the World Bank, eventually becoming its number two.

She is also on Twitter's board of directors and is a special envoy for the World Health Organization's Covid-19 fight.

If she emerges triumphant from the final elimination round, she would not only be the first woman, but also the first African to lead the global trade body.

Yoo, 53, is meanwhile currently serving as her country's first female trade minister, following a career in trade diplomacy and foreign affairs.

Whoever is handed the job in the end will be taking over an organisation mired in multiple crises, and struggling to help members navigate a severe global economic slump triggered by the coronavirus pandemic.

Already before the Covid-19 crisis hit, the organisation was grappling with stalled trade talks and struggling to curb tensions between the United States and China.

The global trade body has also faced relentless attacks from Washington, which has crippled the WTO dispute settlement appeal system and threatened to leave the organisation altogether.

- WTO sees softer drop -

The WTO forecast on Tuesday that global trade, devastated by the coronavirus crisis, will shrink by less than expected this year but the rebound will also be much weaker than previously forecast.

Revising its prior "optimistic scenario" forecast of at least a 12.9-percent contraction in 2020, the WTO said it now expected global trade to shrink by just 9.2 percent this year.

But it will then grow by only 7.2 percent next year, rather than the previous 21.3 percent estimate issued in April, the WTO added.

"World trade shows signs of bouncing back from a deep, Covid-19-induced slump, but WTO economists caution that any recovery could be disrupted by the ongoing pandemic effects," the global trade body said in a statement.

It further warned that the pace of trade expansion could slow sharply once pent-up demand is exhausted and business inventories have been replenished.

More negative outcomes were also possible if there is a resurgence of the coronavirus between now and the end of the year, it said.

Global gross domestic product will fall by 4.8 percent in 2020 before rising by 4.9 percent in 2021, the WTO forecast.
Newsletter

Related Articles

0:00
0:00
Close
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
×