South Korea’s Yoo Myung-hee Confirms Withdrawal From WTO DG Race
South Korean candidate Yoo Myung-hee has officially confirmed her withdrawal from the Director- General race of the World Trading Organisation.
The withdrawal officially clears way for Nigerian former finance minister, Ngozi Okonjo-Iweala to be the only candidate left in the race.
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The members of the WTO had in October 2020 recommended Okonjo-Iweala for the job, but the United States chose South Korean ally, Yoo over the Nigerian.
Ex- US president Donald Trump rejected Okonjo-Iweala as she had the backing of China.
Yoo’s decision comes in the wake of the President Joe Biden administration’s stance towards the WTO.
The South Korean Trade Minister, Yoo said that over the consensus vote to become the next DG of the WTO she had been “in consultation with major countries such as the United States.
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She said South Korea “will continue to contribute in various ways to strengthen the restoration of the multilateral trading system as a responsible trading powerhouse.”
THE WHISTLER had in November 2020 reported that Yoo was considering to withdraw from the keenly contested position.
