Okonjo-Iweala finally clear for WTO job as S’Korean candidate withdraws

The coast is clear for Nigeria’s Ngozi Okonjo-Iweala to emerge as the next director-general of the World Trade Organisation as the South Korean candidate for the position, Yoo Myung-hee, has withdrawn her candidacy.

Yoo said at a press briefing in Seoul, “To speed up the consensus-building among the member countries on selecting a new director-general, I have decided to renounce my candidacy through close cooperation with the United States, our strong ally.

“Washington, which showed strong support for my candidacy, also respects the decision to step down from the race.”

The two women are the last candidates standing and the eventual winner will set a record as being the first female WTO DG.

Ngozi Okonjo-Iweala had received the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.

After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.

The US had said it favoured Yoo over Okonjo-Iweala because WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.

TheCable reported that there were speculations in some quarters that the US would change its stance after Joe Biden won the US election, defeating Donald Trump.