Sakshi Education
The economist of Nigeria Ngozi Okonjo Iweala was appointed as the head of the World Trade Organization. She has become the first woman to hold this position.
- With the rise of protectionism, she also became the first African to be responsible for it. Okonjo-Iweala was appointed Director General by representatives of the 164 member states of the WTO.
- The WTO is an organization that handles trade rules between countries based on negotiated agreements. The appointment of African women was made after US President Joe Biden approved the candidacy.
- The appointment will take effect on March 1, 2021. background Former U.S. President Donald Trump had earlier blocked his candidacy.
- The United States also prohibits the appointment of any new judges to the WTO Appellate Body. It freezes the WTO’s ability to resolve wide-ranging and complex trade disputes.
- The US government blocked the appointment by arguing that the World Trade Organization was slow and bureaucratic. The government also emphasized that China does not have enough capacity to solve the problems caused by the Chinese state-led economy.
- The World Trade Organization (WTO) is an intergovernmental organization. This agency is responsible for handling international trade between countries. It was established in January 1995 under the
- Marrakesh Agreement. In April 1994, the "Marrakesh Declaration" signed the "Marrakesh Agreement." The agreement was signed in Marrakech, Morocco. The agreement was signed by 123 countries in April 1994.
- The Marrakesh Agreement replaced the General Agreement on Tariffs & Trade. The agreement is a supplement to the agreement on sanitary and phytosanitary measures, service trade, intellectual property rights and other issues.
Published date : 18 Feb 2021 04:57PM
