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#COVID19 Could Create Opportunity For Trade Bodies To Prove Relevance To Poorer Nations – WTO’s Candidate, Okonjo-Iweala

by on September 21, 2020
 

Nigeria’s candidate for Director-General position of the World Trade Organization (WTO), Ngozi Okonjo-Iweala has said that the pandemic outbreak could be a chance for trade bodies to redeem themselves and once more, gain back trust from impoverished countries.

The former Finance Minister stated that rules governing trade must thrive to ensure that breakthrough achieved in Medical fields must proliferate everywhere and not just area it was created.

According to her, third world Nations have lost faith in WTO as it had failed on implementing trade liberalization that will boost development initiatives.

“The outbreak of the COVID-19 virus however, has afforded WTO the chance to prove its significance once more to the people.

“WTO must ensure that the COVID-19 medicines be distributed equitably, and a way of doping that is to apply trade rules”, she said.

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She cited an example, using the intellectual property rights that were softened following the crisis of HIV/Aids, so as to allow South Africa produce cheap drugs, adding that similar practise could be implemented to COVID-19 vaccines.

Okonjo-Iweala speaking further concerning her chances of emerging victor as WTO’s Chief, said trade is pivotal to development and she has a well forged background on that.

“I feel it is time to redress the gender imbalance in politics and business, as women also possess qualities that are found in men”, she added.

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