Former Nigeria’s Finance Minister, Ngozi Okonjo-Iweala might be cruising home to victory as the World Trade Organization WTO Director General, as her closest rival, South Korean Trade Minister, Yoo Myung-hee has withdrawn from the race to lead the Trade Organization. Ngozi Okonjo-Iweala remains the only candidate left in the race which favour might smile at her when the members of the Trade organization eventually adopt her as a consensus candidate to take the organization to another level with her exposure and lofty ideas.
Yoo made the decision after discussions with the U.S. and other major nations, taking various issues into account; including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday. “There was no consensus,” Yoo said. “So we needed enough time for in-depth consultations with important members, including the U.S.”
Her withdrawal from the race comes after dozens of former U.S. government officials lobbied President Joe Biden to endorse Okonjo-Iweala after the Trump administration blocked her selection in 2020, making the U.S. and Korea the only holdouts favoring Yoo. That opposition was enough to halt the selection process because WTO decisions are made on the basis of a consensus of its members.
By quitting the race, Yoo would appear to be clearing Okonjo-Iweala’s path to secure the leadership of the Geneva-based institution. But as the Biden-administration forms its trade team, few clues have emerged publicly about whether it will lift U.S. opposition to Okonjo-Iweala’s candidacy.
