South Korea has decided to withdraw its candidate from the World Trade Organisation (WTO) director-general race, according to Washington Trade Daily.
Yoo Myung-hee is South Korea’s Trade Minister and its candidate for the top job at the WTO following the resignation of Roberto Azevedo.
Ngozi Okonjo-Iweala, Nigeria’s candidate in the WTO race, had secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.
The two women are the last candidates standing and the eventual winner will set a record as being the first female WTO DG.
After the October 28 meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.
The United States had blocked Okonjo Iweala’s candidacy, but there are now speculations that the US might change its stance following Donald Trump’s failure to get re-elected as president.
Washington Trade Daily quotes sources as saying South Korea has notified the US of its decision and is expected to make it public “in the coming days”.
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