South Korea has decided to withdraw its candidate from the World Trade Organisation, WTO, director-general race, according to Washington Trade Daily. South Korea’s Trade Minister, Yoo Myung-hee is the country’s candidate for the top job at the WTO, which became open after the resignation of Roberto Azevedo.
Nigeria’s candidate in the WTO race, Ngozi Okonjo-Iweala, had secured the popular vote by a wide margin on October 28 but could not be declared DG following the US opposition to her candidacy.
The two women are the last candidates standing and the eventual winner will set a record as being the first female WTO DG. There have been speculations that the US could change its position on Okonjo-Iweala, after Donald Trump’s failed in his reelection bid as president.
The WTO had declared after the October 28 meeting that Okonjo-Iweala had the best chance of getting a consensus.
Washington Trade Daily quotes sources as saying South Korea has notified the US of its decision and is expected to make it public “in the coming days.”
“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 read.
The November 8 general council meeting scheduled to consider the appointment of the next DG was also postponed. Another general council meeting has been scheduled for December 17.
