The World Trade Organization (WTO) has reappointed Pascal Lamy as director-general for a second four-year term. 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 organization's 15-year history that the director-general candidacy was uncontested. Lamy's first term focused on efforts to finalize the Doha round, a seven-year-long negotiation aimed at liberalizing world trade and supporting economic growth in developing countries through exports. Lamy believes that completing the Doha round is crucial for boosting business confidence, strengthening defenses against protectionism, and addressing the current economic crisis. He stated to the council on Wednesday that the Doha round goes beyond the trade-offs needed to reach a conclusion and the market access it will provide. The main value of the Doha round lies in the certainty, predictability, and stability it will offer to global trade. This becomes even more crucial during times of crisis, like the current one. Lamy, who will start a new term in September, emphasized that the 153-member state body must also address issues such as climate change, food security, energy, labor, and financial protectionism. However, serious work on these matters should not begin until progress is made on reaching a Doha deal. He believed that 80 percent of a Doha agreement had already been secured. Lamy stated that the WTO's dispute settlement system, which resolves trade disputes involving significant amounts of money between countries, was functioning effectively. However, developing nations require additional assistance to navigate the complicated and costly dispute resolution processes, and more efforts should be made to ensure that all countries promptly comply with decisions made by WTO dispute panels that are unfavorable to them. In addition to involving ministers in finalizing 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 the WTO had not held a ministerial conference since 2005. According to WTO regulations, a new leader must be chosen every two years. Lamy is recognized for successfully revitalizing French bank Credit Lyonnais, which is now a part of Credit Agricole. He took over as director-general of the WTO in September 2005.