Okonjo-Iweala set to be crowned DG of WTO as South Korean candidate withdraws from race

Jude Egbas 10:23 - 05 February 2021

A photo combination of Nigeria’s Dr Ngozi Okonjo-Iweala (L) and South Korean Trade Minister, Yoo Myung-hee (R). Both women are in the running to lead the World Trade Organisation.Fabrice COFFRINI / AFP

Okonjo-Iweala who joined the race late, is now set to be named DG of the WTO.

South Korean Trade Minister Yoo Myung-hee has withdrawn from the race to lead the World Trade Organization (WTO), leaving former Nigerian Finance Minister Ngozi Okonjo-Iweala as the only remaining candidate for the top job.

Bloomberg reports that Yoo made the decision after discussions with the U.S. and other major nations.

She examined all the issues “comprehensively;” including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday.

Her withdrawal from the race arrives after dozens of former U.S. government officials urged President Joe Biden to endorse Okonjo-Iweala after the Trump administration blocked her selection.

The WTO had to hold off on the entire process because of Trump's opposition, since the WTO always chooses its Director General by consensus.