Ngozi Okonjo-Iweala appointed as head of WTO

  • Ngozi Okonjo-Iweala became the first female and first African to become the head of WTO. 
  • She was elected unanimously.
  • Her dual citizenship with the United States also makes her the first American to hold this position. 

WHO IS NGOZI OKONJO-IWEALA?

  • Ngozi Okonjo-Iweala is a Nigerian economist whose career in development and finance spans over four decades. 
  • Iweala served as the Finance Minister of Nigeria, holding the position for two consecutive terms, first from 2003 to 2006 and then from 2011 to 2015. 
  • She was also the first woman to hold this position in her country and the first female to hold it twice.
  • Iweala was the Minister of Foreign Affairs of Nigeria after her first tenure as the finance minister, again becoming the first female to be in this role.

WTO

  • Founded: 1 January 1995.
  • Headquarters: Geneva, Switzerland.
  • Membership: 164 member states.
GATT
  • The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947.
  • The Uruguay Round (1986-94) of the GATT led to the WTO's creation. 
  • The Agreement Establishing the WTO, commonly known as the “Marrakesh Agreement”, was signed in Marrakesh, Morocco in 1994.
  • India is a founder member of the 1947 GATT and its successor, the WTO.

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