Reports by Washington Trade Daily indicate that South Korea has decided to withdraw its candidate Yoo Myung-hee from the World Trade Organisation (WTO) director-general race.
The development paves way for Nigeria’s candidate, Dr. Ngozi Okonjo-Iweala, to be confirmed as the head of the global trade body.
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Ngozi Okonjo-Iweala secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.
Part of the reason for the position adopted by the United States against Okonjo-Iweala, is that she is perceived to be close to the Democratic Party, according to the WTD.
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However, there are speculations that the US might change its stance following Donald Trump’s failure to get re-elected as president.
In the meantime, South Korea is expected to announce its decision to withdraw Myung-hee in the coming days to enable the WTO’s General Council appoint Okonjo-Iweala.
The Asian country had already conveyed its decision to the United States, which had been insisting on the selection of Myung-hee.
