“Choosing the WTO Director-General should be on merit. If that person happens to be a woman, then great. If that person happens to be an African, then great. I hope it is a sign not only to women and girls of my country, but to women and girls worldwide, that the world is ready and women can do it.”

…and so said our very own Dr. Ngozi Okonjo-Iweala from Nigeria who on Monday became the first African and the first women to take the reins of this massive global organisation at a time at which world trade is at its most polarized and highly politicized position for decades. Talk about a hospital pass!

As Christine Lagarde (Head of the European Central Bank) has said:

“I have a theory that women are generally given space and appointed to jobs when the situation is tough.”

Well, we can safely say that this is certainly a tick in the ‘win box’ for that theory!

So who is this amazing leader and what lies ahead for her as the Director-General of the World Trade Organisation?

Dr. Okonjo-Iweala has an enviable CV - that starts by her graduating magna cum laude with an A.B. in Economics from Harvard University in 1976, and a Ph.D. in Regional Economics and Development from MIT in 1981. Following a serious stint at the World Bank, she went on to serve twice as Nigeria’s Finance Minister negotiating with the G7 and the rather sweet sounding ‘Paris Club of Creditors’ (who we are sure were anything but sweet!) to successfully cut $30 billion of Nigeria’s debt, including the outright cancellation of $18 billion (not bad for a day’s work). In between her time as Finance Minister she also worked on her air-miles as Foreign Minister - the first woman to hold both major positions.

“…one of Transparency International’s 8 Female Anti-Corruption Fighters Who Inspire (2019), one the 50 Greatest World Leaders (Fortune, 2015), the Top 100 Most Influential People in the World (TIME, 2014), the Top 100 Global Thinkers (Foreign Policy, 2011 and 2012), the Top 100 Most Powerful Women in the World (Forbes, 2011, 2012, 2013 and 2014), the Top 3 Most Powerful Women in Africa (Forbes, 2012), the Top 10 Most Influential Women in Africa (Forbes, 2011), the Top 100 Women in the World (The UK Guardian, 2011), the Top 150 Women in the World (Newsweek, 2011), and the Top 100 most inspiring people in the World Delivering for Girls and Women (Women Deliver, 2011). She has also been listed among 73 “brilliant” business influencers in the world by Condé Nast International.”

Just exhausting, where did she find time for anything else?! To read her full amazing biography, see here.

So why is this such a difficult time to take over the WTO?

Dr. Okonjo-Iweala, herself recognizes this saying:

“…I take the reins of the WTO at a time of great uncertainty and challenge.” The world famous Economist magazine agrees saying it is a ‘perilous time for global trade and international cooperation…trust between members is very low and appetite for new rules is even lower.”

So let us look at the role of DG of the WTO, and before we all get excited about the amazing projects she can start and do for Africa and women businesses, be warned - this is a Members’ Club. Why is this important?

For starters, the vote was 163 for her vs 1 (the USA voted against) and still she did not get the post - that tells you all you need to know about this Member’s Club, the rules alone would test the patience of Job! It was only when there was a change of leadership in the USA and the brilliant South Korean trade minister Yoo Myung-hee, withdrew from the race, that the hashtag #NoiGoesToWTO became real and the celebrations started!

The reason used by the Trump administration to not accept the votes in her favour by all of the other members was that she was not a Trade Expert, but a politician. Looking at her CV one wonders if 25 years at the World Bank counted for nothing, that being in charge of an $81 billion operational portfolio in Africa, South Asia, Europe and Central Asia for them was a mere hobby, or being ‘Chair of the World Bank’s successful drive to raise $49.3 billion in grants and low interest credit for the poorest countries in the world’ was a mere rounding error…

However, this was the reason given and so we need to look at this. In fact as The Economist said in their recent podcast (certainly worth listening daily to these here), she has “…been praised for her no nonsense approach, she would definitely call herself a reformer and she clearly has experience managing large organisations.” They agree that she is not a trade negotiator, but for The Economist (and who are we to disagree with such a global leader in financial journalism) the important fact is that she knows multilateral organisations extremely well and that is essential for such a demanding role.

She certainly has some serious issues waiting for her in Geneva (the HQ of the WTO), so for any hoping that she will use her first 100 days to transform trade with Africa or to end the male monopoly in international trade (“According to the International Trade Centre, 99 per cent of trade and 99 per cent of procurement contracts, whether from governments or companies, are controlled by men” as discussed in the FT here) will be sadly disappointed.

Instead, Government subsidies on industry will be top of her list, for example in fishing, huge government subsidies and cheap loans allows for massive over fishing in international waters. This she will have to address fast. Not least because recently a large Chinese group of super fishing factories parked just outside the Galapagos Island’s territorial waters, dropped bait, waited for the fish (in this case actually Squid) to arrive and hoovered them up, setting back and potentially destroying in one fishing expedition decades of work done to create a safe and essential breeding and feeding ground for so many of the world’s endangered fish and sharks (here).

As she says: “I am acutely aware that the negotiations on fishery subsidies are difficult, but Members should exercise the necessary flexibility for progress to be made on this important issue. A robust agreement would be a win-win for trade and sustainability. It will signal to the world that the WTO is back, that it is capable of concluding a multilateral agreement vital for current and future generations. Members will need to overcome their differences and agree on prohibiting subsidies that contribute to illegal, unreported, and unregulated fishing, and that facilitate overfishing and overcapacity…The WTO cannot afford to stumble over this. The stakes are too high, the negotiations have been going on for far too long, and every effort must be made to conclude as soon as possible.”

US vs China Trade war is of course the large Elephant in the room, then there is the US vs EU subsidies war over aircraft manufacturing that has resulted in large tariffs being thrown around like confetti between these two huge trading blocks and many other large-scale battles being fought between the very large, powerful members of this club.

But as a Members’ Club and a member driven organisation, and this is the central issue that we must not forget - the DG has no hard power, she cannot force any member to do something they don’t want to do! Anything the good Doctor wishes to do, she has to build consensus and that will no doubt mean more air-miles as she traipses around Capitals persuading various Leaders that certain issues are important.

The rights, responsibilities and obligations of the members is a huge battle within and between WTO members currently and into this steps Dr. Okonjo-Iweala.

As we would expect from such a clear Leader - she has not avoided bringing such issues to the fore, even in her acceptance statement saying:

“WTO Members agree that the organization needs reforms, but a lack of trust among members means that there is less agreement on the nature of these reforms or their sequencing. To restore its credibility, the WTO must deliver early success and results…the challenges facing the WTO are numerous and tricky, but they are not insurmountable. There is hope. There is light at the end of the tunnel if we work together in a transparent manner that builds trust, builds bridges, defuses political tensions, and encourages convergence. The pandemic and its economic fallout have highlighted the interdependence of countries, the importance of multilateralism, and the need to strengthen collaboration to achieve fair and balanced trade agreements that provide opportunities for all WTO Members, particularly least developed countries and small island states.

By working together, we can build trust, and we can achieve a stronger, more relevant, and inclusive trading system. I am passionate about these goals. I am keen to support you to carry out the necessary reforms. I look forward to working closely with all of you in the coming months and years, to help build the WTO that we all want, a WTO that is about people, a WTO that is dynamic, robust, and that provides essential support to economic growth and sustainable development through trade.”

There is no doubt that we are all behind her and given the huge support she had already from the #AnkaraArmy, the Lionesses (in this fabulous campaign led by the inspirational Lioness Temie) are watching her back.