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WTO: Biden asked to endorse Okonjo-Iweala as Korean candidate withdraws

NEWSMAN – Nigeria’s former Finance Minister Ngozi Okonjo-Iweala is now the only remaining candidate set to lead the World Trade Organisation (WTO), as South Korean Trade Minister Yoo Myung-hee has reportedly withdrawn her bid.

Yoo reportedly made the decision after discussions with the United States and other major nations, and took various issues into account “comprehensively” including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday.

The withdrawal comes after dozens of former US government officials urged President Joe Biden to endorse Okonjo-Iweala after the Trump administration blocked her selection. The opposition halted the selection process because WTO decisions are made on the basis of a consensus of its members, Bloomberg reported.

The Nigerian economist, who is also a US citizen, emerged as the front-runner for the WTO director-general post last year. The US has been the only country to oppose her.

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