Trade is an important economic activity in a country or any area. People get to exchange goods and services with one another. This enables a country to possess what it might not have. The World Trade Organization is the biggest international economic association that controls international trade between states. Recently, there is a 2020 selection process whereby the officials in the body need to select a new director-general. Out of these candidates, 3 are from the African continent. The question is the difference an African leader can bring to trade if people get to choose one of them.
What is the World Trade Organization?
The WTO is an intergovernmental association that deals with the control of international trade. The organization began on 1st January 1995 under the Marrakesh Agreement that over 120 countries signed in 1994. The World Trade Organization deals with the control of trade in services, good and intellectual property between nations.
The organization forbids bias between trading nations. It provides exclusions for national security and environmental protection. Judges at the organization resolve the trade-related disagreement through a dispute solution procedure.
Roberto Azevedo is the current director-general of the World Tarde Organization. He leads a workforce of more than 550 people in Geneva. There are about 8 candidates who are contesting for the position of Director-General.
African ambassadors feel that a representative from Africa ought to be at the position of one of the globe’s highest economic organizations. In comparison, we see an American leading the World Bank and a European leading the International Monetary Fund.
The Slogan ‘Trade, not Aid’
This is a slogan that backs fair trade. The slogan shows a desire to purchase goods from developing nations instead of offering them foreign aid. It is a symbol of a less dependent form of growth and development.
An African leader could aid to ensure the organization’s officials consider the interests of Africa in the activities of WTO.
David Luke, the head of the trade policy center at the Economic Commission for Africa, says:
“Foreign aid will not do it for Africa. Like everywhere else throughout history it is trade.”
Africa-wide Free-trade Area
Okonjo-Iweala says she will consider the ordinary Africans. She wants to find a way of how to get the most vulnerable, women, and youth, to benefit more from the trade. Besides, she says she will ensure that Africa moves away from trading raw materials and increase value to goods the region produces for other markets.
Ms. Mohamed says that she will bring a new point of view to the work. She wants the world to judge her as an experienced person or leader. On the other hand, Mr. Mamdouh says his great experience at the trade body will allow him to figure out how it can aid Africa.
“My agenda for Africa would be to integrate Africans more into the trading system. I will also call upon political leaders in African states to pay particular attention to their trade policies.”
When it reaches to helping understand the continent’s huge trade policy, the AfCFTA, the WTO leader could participate in a role. The agreement anticipates creating the globe’s biggest free-trade area.
The laws of the African Continental Free Trade Agreement are matching with those of the trade organization. A leader from the continent of the trade body could aid drive it towards more backing for Africa.
The List of Candidates Vying for the Top Position
Mohammad Maziad from Saudi Arabia, Liam Fox (UK), Jesús Kuri (Mexico), and Abdel-Hamid Mamdouh (Egypt). Others are Amina Mohamed from Kenya, Yoo (South Korea), Ngozi Okonjo-Iweala (Nigeria), and Tudor from Moldova.