Nigeria’s Okonjo-Iweala first woman, African to head WTO
Nigeria’s Ngozi Okonjo-Iweala, the former Nigerian finance minister and World Bank veteran, on February 15, was appointed as the first female and first African head of the beleaguered World Trade Organization.
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The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. World Trade Organization, as an institution was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946.
The goal is to ensure that trade flows as smoothly, predictably and freely as possible. it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries. Location :Geneva, Switzerland . The WTO has over 164 members