South Korea has decided to withdraw its candidate, Trade Minister Yoo Myung-hee from the World Trade Organisation (WTO) director-general race, Washington Trade Daily reports.
Nigeria’s former Finance Minister Ngozi Okonjo-Iweala, the country’s candidate had secured popular vote by a wide margin as going by popular demand and was expected to be named DG but the US opposed her candidacy.
It is said that the United States might change its stance given the fact of Donald Trump’s failure to get re-elected as president.
Recall the Donald Trump-led US administration had refused to accept the recommendation made by the WTO’s selection panel of Okonjo-Iweala being confirmed as DG, despite being voted for by 163 out of 164 members.
The two women are the last candidates left in the race which would see the eventual winner emerging the first female WTO DG.
Okonjo-Iweala if given the go ahead, will become the first female and first African head of the global trade body.
According to the Washington Trade Daily, Seoul is expected to announce this decision in coming weeks.
The November 8 general council meeting scheduled to consider the appointment of the next DG was postponed. Another general council meeting has been scheduled for December 17.