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WTO: South Korean withdraws

*Okonjo-Iweala’s chances bright

 

The road to becoming the Director-General of the World Trade Organisation (WTO), might have become clearer for Nigeria’s Dr. Ngozi Okonjo-Iweala as Yoo Myung-Hee, the South Korean candidate, has announced she will withdraw from the race.

Okonjo-Iweala was last year announced by the General Council as the consensus candidate.

The World Trade Organization’s General Council Chair David Walker announced in last October Nigeria’s Ngozi 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 that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General.

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.

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