The World Trade Organization’s chief has announced he is quitting more than a year before the end of his term
Roberto Azevêdo is the sixth Director-General of the WTO. He became Director-General on 1 September 2013, serving a four-year term. At a meeting of the General Council in February 2017, WTO members agreed by consensus to appoint Roberto Azevêdo as Director-General for a second four-year term, which started on 1 September 2017
In recent weeks Azevêdo has joined leaders of the International Monetary Fund and World Bank in calling for countries to put aside their differences and reduce trade barriers to support economic growth. In a statement he said the decision to step down was personal and the timing allowed for a successor to be chosen well before WTO council meetings next year.
The WTO may not be perfect, but it is indispensable all the same
Defending the organisation, which has come under sustained attack from free market supporters, especially in the US, he said: “The WTO may not be perfect, but it is indispensable all the same. It is what keeps us from a world where the law of the jungle prevails, at least as far as trade is concerned.”
The 25-year-old organisation’s main function is to help negotiate multilateral trade deals. It also aims to settle cross-border commercial squabbles in its dispute resolution body and monitor trade flows. Read more about the World Trade Organization HERE
WTO establishes nomination window for DG selection
WTO members have established a month-long period in which candidates seeking to succeed Roberto Azevêdo as Director-General may submit their nomination bids. General Council Chair David Walker of New Zealand informed members on 20 May the appointment process for the next Director-General would formally commence on 8 June with nominations accepted from that date until 8 July.
Source/ Image Credit: WTO Source: The Guardian