According to insights gathered from Washington Trade Daily, South Korea has decided to withdraw its candidate, Yoo Myung-hee, from the World Trade Organization (WTO) Director-General (DG) race.
Nigeria’s candidate in the WTO race, Ngozi Okonjo-Iweala, had secured the vote by a wide margin on October 28, but was however not named the DG due to the opposition of her emergence by the US.
Fresh speculations gathered indicates that the US might change its stance following Donald Trump’s failure to re-secure the White House Presidential seat.
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The WTO had given green light that Okonjo-Iweala had the best chance of getting a consensus following its October 28 meeting.
WashingtonTrade Daily as quoted states that South Korea has notified the US of its decision and is expected to declare it public soon.
“Washington refused to accept the recommendation made by the selection panel chaired by General Council Chair Amb. David Walker that Okonjo-Iweala is the candidate most likely of the two to attract consensus because she clearly carried the largest support by members in the final round and clearly enjoyed broad support from members from all geographic regions and has done so throughout the process.
“Yoo from Korea failed to receive enough support from members of all levels of development -1e., the developed, developing and least developing countries, as well as geographically in comparison to the largest support received by Ms Okonjo-Iweala,” the report reads.
Meanwhile, the November 8 general council meeting scheduled to consider the appointment and emergence of the next WTO DG was postponed, while another general council meeting has been scheduled for December 17.
