The World Trade Organisation (WTO) yesterday put an end to months of bitter wrangling and agreed to appoint Mr Mike Moore, a former New Zealand prime minister, as its next director-general.
Trade envoys reluctantly agreed a compromise, according to which Mr Moore will serve from September 1st for three years, followed by a three-year term for Mr Supachai Panitchpakdi, Thai deputy premier and rival in the long-running battle for the leadership. "It is finished. The torture is over," said one weary trade ambassador.
Trade diplomats acknowledged that the split-term solution was not ideal, but it was the only way out of a crisis that threatened to leave the organisation rudderless at a sensitive period. The WTO is preparing for a ministerial meeting in November in Seattle at which a new global trade round should be launched.
The idea of a split term, proposed by Bangladesh, gained ground when it became clear that no quick solution was in sight. The breakthrough came last Friday when the Thai government said Mr Supachai was prepared to take the second three-year spell. It will now fall to Mr Moore, backed by the US, to guide the launch of the next trade round. Mr Supachai stands a good chance of being in at the conclusion, as the talks are planned to last about three years.
