The coast seems to be clear for Dr Ngozi Okonjo-Iweala to emerge as the next Director-General of the World Trade Organisation (WTO) following the alleged withdrawal of sole opponent from South Korea, Yoo Myung-hee.
Roberto Azevedo’s resignation in May opened the door for the ex-Minister of Finance and her Asian counterpart to step in.
However, Myung-hee’s rumoured withdrawal leaves only the Nigerian in the running for the highly coveted role.
Recall that Okonjo-Iweala had secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.
This was despite the Harvard-educated and longtime World Bank economist obtaining her American citizenship last year.
After the October 28 meeting, WTO also said Okonjo-Iweala had the best chance of getting a consensus.
Washington Trade Daily, reports that people familiar with the development said South Korea will announce its decision to withdraw Myung-hee in the coming days to enable the WTO’s General Council to appoint Okonjo-Iweala.
The report added that South Korea had already conveyed its decision to the United States, which had been insisting on the selection of Myung-hee.
It is widely believed that the reason for the position of the United States against Okonjo-Iweala is her perceived closeness to the Democratic Party, according to the WTD.
The WTO had scheduled a General Council meeting for November 9, which was postponed after the Geneva Canton imposed new restrictions on meetings in the face of the sudden surge in Covid-19 cases.
Most of the WTO meetings are largely virtually through internet platforms.
In order to take decisions by the General Council, a quorum of 82 members must be present at the meeting.
A General Council meeting has been scheduled to take place on December 17, but it is not clear whether the meeting can take place if the current restrictions continue next month.
If confirmed eventually, Okonjo-Iweala will become the first female and African to lead the WTO DG.
