The South Korean Trade Minister Yoo Myung-hee has announced her withdrawal from the list of those seeking to lead the World Trade Organization.
Yoo’s withdrawal leaves a clear path for Nigerian Ngozi Okonjo-Iweala as she remains the only candidate for the job.
According to an article published by Bloomberg on Friday, Yoo’s decision came after a discussion with the US and other major nations.
“There was no consensus…so, we needed enough time for in-depth consultations with important members, including the US,” Yoo said.
Her move paves way for WTO members to approve the appointment of the former Nigerian Finance Minister.
If approved, Okonjo-Iweala will become the first woman and the first African to be the WTO’s director-general.
She will replace the former Roberto Azevedo (Brazilian) who stepped from the leadership in August 2020, a year before the end of his term.
Azevedo served for two terms in office. He was appointed for first term in September 2013 and re-elected for a second term of four years in 2017.
Last year, WTO postponed the process of appointing the next director general due to the US elections.
Twenty-seven delegates had supported the Nigerian for the job, as US differed.
Kenya also backed Okonji-Iweala after Sports CS Amina Mohamed failed to get shortlisted for the final round.
Kenya’s Foreign Affairs ministry reminded the WTO membership that it was agreed that this would-be Africa’s turn.
