The coast appears to be clear for former Minister of Finance, Ngozi Okonjo-Iweala, to become the next Director-General of the World Trade Organization WTO as Yoo Myung-hee, the South Korean candidate for the World Trade Organisation director-general position, has withdrawn her candidacy.
Okonjo-Iweala and Yoo were the two contenders for the exalted position.
According to a statement released by the Korean Ministry of Trade today Friday, February 5, Yoo 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 comes after dozens of former U.S. government officials appealed to US 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.
Okomjo-Iweala who is also a U.S. citizen, emerged as the front-runner for the WTO director-general post last year.
This means that Nigeria’s Ngozi Okonjo-Iweala is now the sole candidate left in the race.