Nigeria’s former minister of finance and the frontrunner in the World Trade Organisation (WTO) Director-General race, Ngozi Okonjo-Iweala, is set to be named the new Director-General of the organisation after South Korea reportedly decided to withdraw its Trade Minister, Yoo Myung-hee, from the race.
Seoul, according to the Washington Trade Daily, is expected to announce this decision in the coming weeks; thereby facilitating the appointment of Okonjo-Iweala, based on sources close to the situation.
South Korea has already conveyed its decision to the United States; which had been insisting on the selection of Yoo.
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News of Okonjo-Iweala getting set to become the next Director-General of the trade organisation filled the air before hitting a setback. The Donald Trump-led US administration had refused to accept the recommendation made by the WTO’s selection panel that Okonjo-Iweala be confirmed as DG, despite being voted for by 163 out of 164 members.
The Geneva-based organization further pushed forward its announced of the next DG following the second wave of the COVID-19 pandemic.
Okonjo-Iweala, following South Korea’s withdrawal of Yoo, now has a clear path to be named the first female and first African head of the global trade body.
