Ngozi Okonjo-Iweala’s Rival, Yoo Myung-hee Pulls Out From Race For WTO DG

Ngozi Okonjo-Iweala ,Yoo Myung-hee

Former Finance Minister of Nigeria, Dr Ngozi Okonjo-Iweala might become the next Director-General of the World Trade Organisation (WTO) as her competitor, South Korean Yoo Myung-hee is set to withdraw from the race.

According to a report by Washington Trade Daily, South Korea has decided to withdraw its candidate, Yoo Myung-hee, from the WTO in few days to enable the WTO’s General Council appoint Okonjo-Iweala.

South Korea had already notified the US of its decision and is expected to make it public in a few days.

The report stated: “Washington refused to accept the recommendation made by the selection panel chaired by General Council Chair Ambassador David Walker that Mrs Okonjo-Iweala is the candidate most likely of the two to attract consensus because she clearly carried the largest support by members in the final round and clearly enjoyed broad support from members from all levels of development and from all geographic regions and has done so throughout the process.

“Yoo from Korea failed to receive enough support from members of all levels of development that is developed, developing and least developing countries, as well as geographically in comparison to the ‘largest’ support received by Mrs Okonjo-Iweala.”

Okonjo-Iweala had secured the popular vote last month, but was not named Director General because the US government opposed and refused to accept her candidacy.

The general council meeting to consider the appointment of the Director General of WTO is schedule to take place on December 17.