South Korea’s candidate for the position of Director-General of the World Trade Organisation (WTO), Yoo Myung-Hee, has announced she will withdraw from the race, clearing the path for Nigeria’s Ngozi Okonjo-Iweala who the General Council announced late last year as the consensus candidate.
The World Trade Organisation’s General Council Chair David Walker announced in October last year that Nigeria’s Ngozi Okonjo-Iweala had garnered the most support among WTO members to become the next global trade chief, but was vetoed by the United States.
Korea’s Trade Minister Yoo Myung-hee announced on Friday, February 5, 2021, that she would withdraw her candidacy for the next WTO Director-General.
She said Korea will continue to work with responsibility for the restoration of the multilateral trading system.
Okonjo-Iweala will be the first female and first African to head the WTO if affirmed by its 164 members.
The Korean’s withdrawal does not mean Okonjo-Iweala immediately becomes the next Director-General.
That appointment will be confirmed by the WTO’s 164 members.
Since the US is the only member blocking Okonko-Iweala’s candidacy the key question now is whether the Biden administration will reverse former President Donald Trump’s veto and support her.
In the event there is no opposition from any WTO members, the chairman of the WTO general council, David Walker, can announce the resumption of the suspended October general council meeting to consider the appointment of a new Director-General.
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