Nigeria’s former minister of finance Ngozi Okonjo-Iweala is set to become the first woman and first African director-general of the World Trade Organization (WTO) following the withdrawal of South Korean trade minister Yoo Myung-hee on Friday.
South Korea’s trade ministry said in a statement that Yoo had consulted with the United States – her major backer — and other countries and “decided to renounce her candidacy”.
Yoo’s candidacy had received support from the Trump administration.
The process to name a successor to Roberto Azevedo had been deadlocked since October 2020 when key WTO ambassadors tapped Mrs Okonjo-Iweala as the best pick to lead the organisation but the Trump administration maintained its opposition to her appointment.
The WTO was destined to have its first woman director-general after the months-long consultation process whittled the candidates down to the final two – Okonjo-Iweala and Yoo.
South Korea’s decision to withdraw her candidacy comes two weeks after Joe Biden was sworn in as US president.
