The World Trade Organization (WTO) announced on Thursday that Pascal Lamy has been reappointed as director-general for a second four-year term. The 62-year-old Frenchman, who was the only candidate for the position, was unanimously approved by members of the WTO General Council. This marks the first time in the organization's 15-year history that the director-general candidacy was uncontested. Lamy's first term was focused on efforts to finalize the Doha round, a seven-year-old initiative aimed at promoting global trade liberalization and supporting developing countries through exports. Lamy believes that completing the Doha round is crucial for boosting business confidence, strengthening defenses against protectionism, and addressing the challenges posed by the economic crisis. He stated to the council that the Doha round goes beyond the necessary compromises and potential market access it offers, emphasizing its significant systemic value. The main advantage of the Doha round is the stability and predictability it will bring to global trade, especially crucial in times of crisis. Lamy also highlighted the importance of addressing other pressing issues such as climate change, food security, and financial protectionism, but stressed that serious work on these matters should only begin once a Doha deal is within reach. 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 worth billions of dollars between countries, was functioning effectively. However, developing countries require more assistance to navigate the complex and costly dispute resolution processes, and there is a need for better enforcement of WTO dispute panel decisions. Additionally, Lamy suggested that aside from bringing in ministers to finalize a Doha deal, the WTO should organize a regular ministerial conference this year to assess the organization's performance and set strategic goals. He pointed out that the WTO had not held a ministerial conference since 2005. According to WTO regulations, a new director must be appointed every two years. Lamy is recognized for successfully reviving French bank Credit Lyonnais, which is now part of Credit Agricole. He took on the role of director-general of the WTO in September 2005.