The Elizabeth Foundation (EF) has congratulated Dr Ngozi Okonjo-Iweala on her appointment as the Director-General of World Trade Organisation (WTO).
Mrs. Otunba Abosede Adelami, founder of the Elizabeth Foundation, a foundation that has assisted over 10,000 vulnerable children, youth and women through her back to school program, poverty alleviation and healthcare initiatives, said this in a statement on Thursday while congratulating Okonjo-Iweala on her appointment.
She expressed confidence that Okonjo-Iweala, a renowned economist, would successfully lead the needed reforms to reposition the WTO to effectively deliver on its mandate to promote open and fair trade for the benefit of all, For the marginalised groups, particularly women, the appointment of Okonjo-Iweala is a pointer that the world is fast changing, she added.
Although there are several challenges waiting for Dr. Ngozi when taking up her new role 1st of March, we hope that her leadership will result in African economies becoming more connected to global markets. Today African economies constitute only three percent of the global economy.
On the first of January this year the African Continental Free Trade Area (AfCFTA) was set in motion, as the world’s second largest trade agreement, measured in geography. This will lead to more intra-African trade, from today’s 16 percent intra-continental trade. The appointment of Dr. Ngozi is the second great trade-news for the continent, and we are excited about the opportunities created by a more “trading continent”, says Abosede.
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