Geneva-based World Trade Organisation (WTO)on Thursday said itschief 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," he said.
"This is a decision that I do not take lightly," he added.
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He said it is a personal decision.
"I also want to be clear about what this is not: it is not health-related (thank goodness). Nor am I pursuing any political opportunities," he added.
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