Nigeria’s former finance minister, Ngozi Okonjo-Iweala is a step closer to becoming the Director-General of the World Trade Organisation, WTO, as South Korean contender, Yoo Myung-Hee, announces her withdrawal from the race.
The World Trade Organization’s General Council Chair David Walker announced in last October Okonjo-Iweala had garnered the most support among WTO members to become the next global trade chief but her appointment was vetoed by the United States.
Korea’s Trade Minister Yoo Myung-hee announced on Friday that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General.
Korea, she said, will continue to work with responsibility for the restoration of the multilateral trading system.
NOI, as she is fondly called, will be the first female and first African to head the WTO if affirmed by its 164 members.
Myunghee1’s withdrawal does not mean @NOIweala immediately becomes the WTO next Director-General.
That appointment is taken in a formal decision by the WTO’s 164 members.
Since the U.S. is the only WTO member blocking Okonjo-Iweala’s candidacy, it remains to be seen whether the Biden administration will reverse the Trump administration’s veto and support her.
If there is no opposition from any WTO members, the chairman of the WTO general council, David Walker, can announce the resumption of the WTO suspended October general council meeting to consider the appointment of a new Director-General.
