“Dr Ngozi” is expected to be appointed director general of the World Trade Organization shortly after the withdrawal of her South Korean rival. The change of administration in the United States unblocked the election process.
South Korean Trade Minister Yoo Myung-hee withdrew her candidacy for the head of the World Trade Organization (WTO), leaving former Nigerian Minister of Finance, Ngozi Okonjo-Iweala, as the only remaining candidate for the post.
Yoo Myung-hee made the decision after discussions with the United States and other major countries, and “globally” considered various issues, including the need to revitalize the multilateral organization, according to a statement from the ministry of Korea Trade, released February 5.
The pullout comes after dozens of former US government officials urged President Joe Biden to join the Okonjo-Iweala bid, which the Trump administration did not want. This opposition had interrupted the selection process because the decisions of the WTO are taken on the basis of a consensus of its members.
The process of appointing a successor to Brazilian Roberto Azevedo, who left a year before the end of his term for family reasons, had therefore been at an impasse since the fall. The succession committee announced on October 28 that the best-placed candidate for consensus was Ngozi Okonjo-Iweala, nicknamed “Dr Ngozi.”
The Nigerian economist, who is also a US citizen, took the lead for the post of WTO director general as early as last year. The United States was the only country to oppose it. Ngozi Okonjo-Iweala will become the first woman, and the first African, to lead the WTO. For her part, Yoo Myung-hee was the first woman to have been Minister of Commerce in her country. The World Trade Organization organizes international negotiations on international trade rules, tariffs, etc.
The move by South Korea – a very close ally of the United States which maintains 28,500 military personnel in the country – comes two weeks after the inauguration of new US President Joe Biden. “South Korea will continue to make various contributions to rebuild and develop the multilateral trading system,” the South Korean ministry continues.
