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The South Korean candidate for the World Trade Organisation (WTO) director-general position, Yoo Myung-hee, has officially withdrawn her candidacy.
This development means that Nigeria’s Ngozi Okonjo-Iweala is now the only candidate left in the race.
Yoo Myung-hee is South Korea’s trade minister and its candidate for the top job at the WTO due to the resignation of Roberto Azevedo.
In November 2020, Washington Trade Daily first reported her withdrawal but it is not officially confirmed.
Ngozi Okonjo-Iweala had secured the popular vote by a wide margin on October 28 but was not named DG because the US was not in support of her candidacy.
After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.
The US had said it favoured Yoo over Okonjo-Iweala because WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.
There had been speculations in some quarters that the US would change its position after Joe Biden won the US election, defeating Donald Trump.
At a press briefing in Seoul, Yoo said “Due to the prolonged vacancy of the leadership at the WTO, the future of the organization also has become uncertain,”
“To speed up the consensus-building among the member countries on selecting a new director-general, I have decided to renounce my candidacy through close cooperation with the United States, our strong ally.
“Washington, which showed strong support for my candidacy, also respects the decision to step down from the race.”
Korea’s Trade Minister Yoo Myung-hee announced on February 5 (local time) that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General. Korea will continue to work with responsibility for the restoration of the multilateral trading system.
— MOTIE – Korea (@MOTIEKoreaEng) February 5, 2021
The two women are the last candidates standing and the eventual winner will set a record as being the first female WTO DG.
A senior advocate of Nigeria (SAN) and human rights lawyer, Ebun-Olu Adegboruwa, says the extension of the tenure of Mohammed Adamu as inspector general of police is “illegal and unconstitutional”. […]
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