By Audrey Lotechukwu
FRI 05 FEB, 2021-theGBJournal- Yoo Myung-Hee, South Korea’s top trade official and main rival to Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala for the top job at the World Trade Organisation (WTO), has dropped her bid to become the World Trade Organisation’s Chief, AP reports.
According to the AP, South Korean Ministry said Yoo discussed her candidacy with officials from the United States before deciding to withdraw over ‘’comprehensive’’ considerations.
On October 28, the General Council Chair David Walker of New Zealand and his two co-facilitators in the DG selection process told the organisation’s members that based on their consultations with all delegations the candidate best poised to attain consensus and become the 7th DG was Ngozi Okonjo-Iweala.
However, the General Council meeting scheduled for 9 November to consider the appointment of the next DG was suddenly postponed.
Earlier the U.S. government under Donald Trump had thrown its weight behind Yoo and challenged the assessment of the organisation’s members favouring Okonjo-Iweala’s selection, slowing down Iweala’s momentum.
Myung-Hee withdrawal now makes it likely that the top job will go to Okonjo-Iweala who is the preferred candidate of the Member countries of the WTO.