The World Trade Organization (WTO) has reappointed Pascal Lamy as director-general for a second four-year term, the organization announced on Thursday. Lamy, a 62-year-old Frenchman, was the only candidate for the position and was unanimously approved by the WTO General Council. This marks the first time in the WTO's history that the director-general candidacy was uncontested. Lamy's first term focused on efforts to finalize the Doha round, a seven-year-old initiative aimed at promoting global trade liberalization and supporting developing countries through increased exports. Lamy believes that concluding the Doha round is crucial for boosting business confidence, strengthening defenses against protectionism during economic crises, and is the WTO's primary objective. He stated to the council that the Doha round has significant systemic value beyond the necessary trade-offs and market access it will provide. The main benefit of the Doha round is the certainty, predictability, and stability it will bring to global trade, especially during times of crisis. Lamy emphasized the importance of addressing other issues such as climate change, food security, energy, labor, and financial protectionism, but suggested that serious work on these matters should not begin until a Doha deal is close to being reached. He believed that 80 percent of a Doha agreement was already secured. Lamy mentioned that the WTO's dispute settlement system, which resolves trade disputes involving large sums of money between countries, was functioning effectively. However, he emphasized the need for developing countries to receive more assistance in navigating the complex and costly dispute resolution processes, and for all countries to promptly comply with decisions made by WTO dispute panels. In addition to convening ministers to finalize a Doha agreement, Lamy suggested that the WTO should organize a regular ministerial conference this year to establish a strategy and assess the organization's performance. He pointed out that a ministerial conference had not been held since 2005. According to WTO regulations, a new director-general must be appointed every two years. Lamy is recognized for successfully revitalizing French bank Credit Lyonnais, which is now a part of Credit Agricole, after it faced financial trouble. He assumed the position of director-general of the WTO in September 2005.