The Coast is Finally Clear For Nigeria’s Dr Ngozi Okonjo-Iweala to Lead WTO

Nigeria’s Okonjo-Iweala is finally close to leading WTO after South Korean candidate quits. Yoo Myung-hee says her decision to pull out was made in ‘close consultation’ with US

Nigeria’s Ngozi Okonjo-Iweala is a step closer to becoming director-general of the World Trade Organization after South Korea’s candidate quit the race following months of uncertainty over the body’s leadership.

Yoo Myung-hee, the South Korean trade minister who had not stood down from the race despite weaker support compared to her rival last year, said on Friday the future of the WTO had become “uncertain” because of the prolonged leadership battle.

The move paves the way for Okonjo-Iweala, a former finance minister in Nigeria who battled corruption in her country, to be the first WTO leader from Africa. But her appointment will still require US approval.

Yoo, the only candidate still serving as a trade minister, said her decision was made in “close consultation” with the US.

“South Korea will actively contribute to reaching consensus for the next WTO chief and co-operate with her and participate in the WTO reform process,” Yoo said.

The WTO body, tasked with preserving free and non-discriminatory trade, has been without a director-general for months after Roberto Azevêdo’s early since August 2020.

Your time is appreciated. What do you think about this article? Kindly pen down your thoughts in the comments section below. It will only make us better. 

Do you have stories to share with us or you want to advertise your legitimate business, products or services? You can reach us on WhatsApp +2349097679797. You can also follow us on Twitter @Validnewsplt4m, Facebook or mail us segdam09@gmail.com for email subscription.