WTO: South Korea Withdraws Candidate, Okonjo-Iweala’s Chance Heightened

WTO: South Korea Withdraws Candidate, Okonjo-Iweala’s Chance Heightened  

Following the World Trade Organisation (WTO) director-general race, South Korea has withdrawn its candidate from the race, Washington Trade Daily has reported.

With the resignation of Roberto Azevedo, Yoo Myung-hee, is South Korea’s trade minister and its candidate for the top job at the WTO

Nigerians candidate, Ngozi Okonjo-Iweala, had secured the popular vote by a wide margin on October 28 but was however not named DG because the US opposed her candidacy.

Bother women are the finalist and the eventual winner will set a record as being the first female WTO DG.

It is however expected that the US might turn around to support her, following Donald Trump’s failure to get re-elected as president.

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

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,” the report read.

“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.”