World Trade Organisation (WTO) Director-General, Roberto Azevedo said that he would step down from his position effective Aug. 31.
Azevedo said on Thursday that he is resigning after seven years at the helm of the global trade body.
Azevedo, a 62-year-old Brazilian career diplomat, stepped down more than a year before his second term as WTO head was due to end.
His departure comes at a difficult time for the WTO, which is charged with setting international rules for trade between member states.
In December, the U.S. effectively paralysed the WTO’s ability to settle disputes by blocking the appointment of judges to its appellate body.
U.S. President Donald Trump has regularly criticised the world trade body, calling it “broken” and “unfair.”
In spite attempts to foster agreements on e-commerce and subsidies for fishing, the 164-member has failed to establish a major trade accord since the 2015 negotiations dubbed the “Doha Round” were abandoned.
With protectionism gaining steam globally, the WTO’s influence is diminishing as trade negotiations start to take shape in nations’ capitals instead of Geneva, where the body is based.
As such, experts believe the next leader will need to spearhead effective reforms to become relevant again.
“The next leader of the WTO must command respect in the corridors of power of the major players,” said Simon Evenett, professor of international trade and economic development at the University of St. Gall in Switzerland.
“This is not the time to promote another ambassador. Someone with very senior government experience or global status is needed.” (Reuters/NAN)