Posted on Fri 5 Feb 2021, 01:39 PM

South Korean trade minister Yoo Myung-hee on Friday abandoned her bid to become head of the World Trade Organization, Seoul said, clearing the way for Nigeria’s Ngozi Okonjo-Iweala to become the global body’s first woman and first African director-general.

Yoo had consulted with the United States — her prime backer — and other major countries and “decided to renounce her candidacy”, South Korea’s trade ministry said in a statement.

Posted on Fri 30 Oct 2020, 10:42 AM

The United States has explained that the reason it moved against the election of former Finance Minister, Ngozi Okonjo-Iweala as the next Director-general of the World Trade Organisation, WTO, was the fact that the UN agency was in dire need of reform which must be driven by ‘’someone with real, hands-on experience.

"In a statement issued by the office of the US Trade Representative, Robert Lighthizer, on Wednesday, the US government said: “The United States supports the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General.

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