Okonjo-Iweala one step to becoming WTO DG, Yoo Myung-hee of South Korea steps down

Dr. Ngozi Okonjo-Iweala, Nigeria’s nominee for the next Director General of the World Trade Organisation (WTO) is one step away from clinching the international job. this is consequence upon the withdrawal of the only remaining competitor for the job, South Korean Trade Minister, Yoo Myung-hee, who stepped down on Friday. The withdrawal clears the way for the Nigerian nominee, Ngozi Okonjo-Iweala, to become the WTO’s first woman and first African Director-General.

South Korea’s Trade Ministry had indicated in a statement that Yoo consulted with the United States, and other major countries before she “decided to renounce her candidacy”.

The process to announcing a successor to Roberto Azevedo was at stalemate last October after notable WTO ambassadors had endorsed Dr. Okonjo-Iweala for the DG job but the United States under the leadership of former President Donald Trump opposed her appointment, supporting the South Korean candidate.

The WTO had to suspend the process till the conclusion of the US Presidential election.