The Brazilian candidate for the post of director-general of the World Trade Organization (WTO) is upbeat about his election. Luiz Felipe de Seixas Corrêa expressed confidence that the election will go to a representative from a developing country.
In his view, the idea is to introduce balance in the leadership of the large institutions involved with the international economic, financial, and trade system.
According to Seixas Corrêa, the International Monetary Fund (IMF) and the World Bank have executive boards composed of representatives of the developed countries.
For this reason, he says, Brazil and many other countries believe that the WTO should be headed by a developing nation.
The selection of the next director-general will be made through consultations with the representatives of the 148 countries that are currently members of the organization, which was founded in 1995 and has its headquarters in Geneva, Switzerland.
The Brazilian will continue campaigning through the end of March. The consultations, aimed at reaching a consensus over the choice of a name, will get underway in April and May.
The new director will take office in September, replacing Supachai Panitchpakdi, from Thailand.
Seixas Corrêa is in Davos, Switzerland, where he is participating in the World Economic Forum.
Translation: David Silberstein