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WTO head Ngozi Okonjo-Iweala: how trade can help beat inequality

WTO head Ngozi Okonjo-Iweala: how trade can help beat inequality

IN a recent study South Africa was identified as ranking first of 164 countries in the World Bank’s global poverty database. Underlying this inequality is its very high rates of unemployment. Professor Dori Posel spoke to World Trade Organisation (WTO) Director General Dr Ngozi Okonjo-Iweala about why trade is important in tackling joblessness and inequality. And her experiences of fighting corruption in Nigeria. Author DORRIT POSEL, Professor in the School of Economics and Finance, University of the Witwatersrand Professor Posel: You’ve said that the WTO is all about people. How do we ensure that global trade reduces inequality both between…
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History-maker Okonjo-Iweala “ready to go”

History-maker Okonjo-Iweala “ready to go”

EMMA FARGE THE World Trade Organization's first female and first African director-general Ngozi Okonjo-Iweala began work today, ending a six-month leadership void at the global trade watchdog. After a long campaign that was derailed in the late stages by a Trump administration veto, the 66-year-old Nigerian was finally confirmed as boss last month, pledging to "forget business as usual" at the body which is struggling to strike new deals and whose arbitration functions are paralysed. "It feels great. I am coming into one of the most important institutions in the world and we have a lot of work to do.…
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New WTO head’s warning on ‘vaccine nationalism’

New WTO head’s warning on ‘vaccine nationalism’

ANDREA SHALAL THE World Trade Organization's incoming chief has warned against "vaccine nationalism' that would slow progress in ending the COVID-19 pandemic and could erode economic growth for all countries - rich and poor. Ngozi Okonjo-Iweala told Reuters her top priority was to ensure the WTO does more to address the pandemic, saying members should accelerate efforts to lift export restrictions slowing trade in needed medicines and supplies. The former Nigerian finance minister and senior World Bank executive was appointed yesterday in a consensus process and starts her new job on March 1. "The WTO can contribute so much more…
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UK’s Gove says Brexit trade talks could go on beyond Christmas

UK’s Gove says Brexit trade talks could go on beyond Christmas

ONE of Prime Minister Boris Johnson's senior ministers has said that Britain hoped to reach a trade deal with the European Union but that talks might go on until after Christmas. "When we think about the real deadline, I hope that we can conclude an agreement as quickly as possible but talks may go on until after Christmas," Michael Gove told a parliamentary committee. "We will want to ensure that parliament has a say, and a chance to scrutinise any agreement that's reached, so realistically it's in the days just immediately after Christmas." Gove, who earlier said the chances of…
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How global and local experience would play out in WTO top job

How global and local experience would play out in WTO top job

THE global economy faces profound uncertainties, particularly in the face of the COVID-19 pandemic. In addition, faith in the efficacy of international bodies such as the World Trade Organisation (WTO) has been weakened by a power struggle between China and the US. EZEBUILO UKWUEZE, Senior Lecturer in the Department of Economics, Nsukka, University of Nigeria As the process for appointing a new head of the organisation moves into its final phase, it’s worth considering what front runner Ngozi Okonjo-Iweala could bring to the complex role of managing an international organisation, including designing and implementing reforms. The WTO describes itself as…
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Africa‌ ‌rallies‌ ‌behind‌ ‌Okonjo-Iweala‌ ‌for‌ ‌top‌ WTO ‌job‌

Africa‌ ‌rallies‌ ‌behind‌ ‌Okonjo-Iweala‌ ‌for‌ ‌top‌ WTO ‌job‌

AFRICAN MIRROR REPORTER THE African Union (AU) has come out strongly in support of Dr Ngozi Okonjo-Iweala, whose appointment as the Director-General of the World Trade Organisation (WTO) has been supported by the majority of WTO member states.  Nigerian Dr Okonjo-Iweala has emerged as the only candidate proposed for endorsement by the WTO general council on November 9.  If elected, she will become the first African to hold the post. However, the US has opposed the appointment of the former finance minister of Nigeria and an executive at the World Bank. AU Chairperson Cyril Ramaphosa said the AU stood behind…
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Restrictions in trade to contain COVID-19 have been devastating for Africa’s urban poor

Restrictions in trade to contain COVID-19 have been devastating for Africa’s urban poor

ASTRID R.N. HAAS, Policy Director, International Growth Centre VICTORIA DELBRIDGE, Head of the Cities that Work initiative, International Growth Centre Trade routes have been significantly disrupted this year in efforts to contain COVID-19. The effects of this are already showing: global growth is set to contract by 4.9% and growth in sub-Saharan Africa will contract by 3.2%. This will get worse if continued restrictions further impede trade. The World Trade Organisation has warned that at worst, global trade could collapse by a third this year, and at best, it will contract by 13%, similar to the recorded drop after the…
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India and South Africa ask WTO to waive rules to aid COVID-19 drug production

India and South Africa ask WTO to waive rules to aid COVID-19 drug production

INDIA and South Africa want the World Trade Organization (WTO) to waive intellectual property rules to make it easier for developing countries to produce or import COVID-19 drugs, a letter to the WTO shows. In their letter dated October 2 the two countries called on the global trade body to waive parts of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which governs patents, trademarks, copyright and other intellectual property rules globally. "As new diagnostics, therapeutics and vaccines for COVID-19 are developed, there are significant concerns (over) how these will be made available promptly, in sufficient quantities and…
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‘WTO should play role in COVID-19 medicine access’

‘WTO should play role in COVID-19 medicine access’

EMMA FARGE A key contender to head the World Trade Organization thinks the body should play a role in helping poorer countries access COVID-19 drugs and vaccines, and this topic should be part of negotiations if she wins. Nigeria's Ngozi Okonjo-Iweala, seen by delegates as a top candidate to lead the WTO, currently chairs the GAVI vaccine alliance board and stressed her credentials among five remaining candidates "at the intersection between public health and trade". "Trade can contribute to public health - seeing that connection, invoking those (WTO) rules, actively discussing COVID-19 issues and how WTO can help," the former…
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Two African women in final five for WTO leadership race

Two African women in final five for WTO leadership race

EMMA FARGE THREE women, two of them from Africa, advanced to the second round of selection to become the next director-general of the World Trade Organization as the field was cut from eight to five, the Geneva-based body has announced. The WTO is looking for a new director-general to replace Brazilian Roberto Azevedo, who stepped down a year earlier than expected at the end of August. The 25-year-old trade body has never had a leader who is female or from Africa. The five to go through to the next round are Kenyan minister Amina Mohamed, former Nigerian Finance Minister Ngozi…
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