Coast clears for Okonjo-Iweala to emerge WTO DG as South Korea’s Yoo Myung-hee finally withdraws from race

Korea’s trade minister Yoo Myung-hee withdraws from WTO DG race

Nigeria’s Ngozi Okonjo-Iweala has emerged as the only candidate left in the race for the Director-General of World Trade Organisation (WTO) as south Korean candidate Yoo Myung-hee has finally withdrawn her candidacy.

According to a tweet from the official Twitter account of the ministry of trade, industry and energy, republic of Korea, it stated that “Korea’s Trade Minister Yoo Myung-hee announced on February 5 (local time) that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General. Korea will continue to work with responsibility for the restoration of the multilateral trading system.”

READ ALSO: WTO JOB: Path clears for Okonjo-Iweala as France, Germany, 25 other EU members endorse her candidacy

Nigeria Today News reported that at least 27 member countries of the European Union (EU) have thrown their weight behind the candidacy of the former Minister of Finance for the WTO job.

Okonjo-Iweala and South Korea’s Yoo Myung-hee had been the only contenders for the exalted WTO job which became open in August following the resignation of a Brazilian diplomat, Roberto Avezedo.

Countries such as Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden had declared their support for the ex-World Bank managing director. After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.