WTO DG: Coast Clears for Ngozi Okonjo Iweala as South Korea Withdraws it Candidate, Yoo Myung-hee

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WTO DG: Coast Clears for Ngozi Okonjo Iweala as South Korea Withdraws it Candidate, Yoo Myung-hee

South Korea has withdrawn its candidate, Yoo Myung-hee from aspiring to the position of the Director-General (DG) of World Trade Organisation (WTO).

The implication of this decision by South Korea is that Ngozi Okonjo Iweala now stands a greater chance to be announced as DG of the WTO

Washington Trade Daily quotes sources as saying South Korea has notified the US of its decision and is expected to make it public “in the coming days”.

“Washington refused to accept the recommendation made by the selection panel chaired by General Council Chair Ambassador David Walker that Ms. 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 -1e., the developed, developing and least developing countries, as well as geographically in comparison to the “largest” support received by Ms Okonjo-Iweala”, the report said.

Recall Yoo Myung-hee who is South Korea’s candidate and Ngozi Okonjo Iweala are the 2 finalists for the post of DG of the WTO.

The winner will break the record as the first female WTO DG.

Ngozi Okonjo-Iweala, Nigeria’s candidate in the WTO race, had secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.

However, there are speculations that the US might change its stance following Donald Trump’s failure to get re-elected as US president.

After the October 28 meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.

The November 8 General Council meeting scheduled to consider the appointment of the next DG was also postponed.

Another general council meeting has been scheduled for December 17.

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