WTO chief Azevedo to step down on August 31 before term expires
- Geneva-based World Trade Organisation (WTO) said its chief Roberto Azevedo will step down on August 31, a year before his term ends, on personal grounds.
- India is one of the founder members of this multi-lateral body, which frames rules for global exports and imports.
- “At a virtual meeting of all WTO members, WTO Director-General Roberto Azevedo announced that he would step down on 31 August, cutting his second term short by exactly one year,” the WTO said in a statement.
- Azevedo said that bringing forward his departure would allow members to select his successor in the coming months, without diverting political energy and attention from preparations for the Twelfth Ministerial Conference (MC), which is set to be held in 2021.
- “This August, I will complete 7 years as WTO Director General. And I have decided that I will step down from my current position on 31 August 2020, cutting short my second term in office by exactly one year,”
- The remaining USD 250 million will be made available after June 30, 2020.
About World Trade Organization-
- Headquarters– Geneva, Switzerland
- Membaership-164 member states
- Founded – 1st Jan 1995
- Head– Pascal Lamy
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