Economy News Extra Foreign Latest News Political Economy Privatisation & Commerce

Okonjo-Iweala Set To Become WTO’s Director General

After several months of political maneuvering by the ousted U.S President, Donald Trump, to stall Dr. Ngozi Okonjo-Iweala’s ambition of becoming the next Director-General of the World Trade Organisation (WTO), the coast now appears clear for the Nigeria’s ex-finance Minister to get the job.

A news report by Bloomberg at the weekend indicated that Okonjo-Iweala’s only co-contender for the position, Yoo Myung-hee, had withdrawn from the race.

According to a statement released by the Korean Ministry of Trade on Friday, Myung-hee, who is also the country’s Minister of Trade, made the decision after discussions with the U.S. and other major nations and took various issues into account “comprehensively” including the need to revitalize the multilateral organization.

The withdrawal came on the heels of recent appeals by dozens of former U.S. government officials to US President Joe Biden to endorse Okonjo-Iweala for the position.

The Trump administration had opposed the Nigeria’s former finance minister’s, who is also a U.S citizen, final selection for the WTO’s topmost office.

The selection process was stopped last year, despite Okonjo-Iweala’s high ratings and support by member-countries, because WTO decisions are made on the basis of a consensus of its members.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *