Nigeria\u2019s Ngozi Okonjo-Iweala is poised to become the first woman and African director-general of the World Trade Organization after South Korean Trade Minister Yoo Myung-hee withdrew her candidacy last week.<\/p>\n
The United States under President Joe Biden also gave its strong support for Okonjo-Iweala, an economist and Nigeria\u2019s former finance minister, reversing former President Donald Trump\u2019s opposition to the Nigerian diplomat\u2019s candidacy after a selection panel from the WTO recommended her as a top contender last October.<\/p>\n
The two women, Yoo and Okonjo-Iweala were shortlisted as top contenders in October from a group of eight candidates over several months, with Dr. Okonjo-Iweala emerging as the person with the highest support.<\/p>\n
See Related Story:<\/strong> Two Women Make Historic Bid to Lead World Trade Organization<\/a><\/p>\n However, WTO rules had earlier complicated the Nigerian diplomat\u2019s bid for the top post as it requires all of its 164 members to express support. This after the United States under former President Trump opposed Dr. Okonjo-Iweala\u2019s bid and declaring support to her South Korean rival.<\/p>\n The race for the top post at the WTO has been frozen since November when Dr. \u00a0Okonjo-Iweala had support from the majority of member countries but former President Donald Trump\u2019s government announced that it would veto her candidacy and back Minister Yoo.<\/p>\n In a statement<\/a>, the Office of the United States Trade Representative expressed strong support to Okonjo-Iweala as her experience \u201cbrings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.\u201d<\/p>\n \u00a0\u201cShe is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership,\u201d the US government statement added.<\/p><\/blockquote>\n<\/blockquote>\n The United States under Biden has expressed it is \u201cready to engage\u201d in WTO and find paths forward to achieve necessary substantive and procedural reform of international trade organization.<\/p>\n Okonjo-Iweala said she was looking forward to the conclusion of the race and moving forward with needed reforms, Reuters reported<\/a>.<\/p>\n In a tweet<\/a>, the Nigerian economist said she is grateful for the US government\u2019s expression of support while also thanking Minister Yoo for the hard-fought campaign for the WTO\u2019s top post.<\/p>\n In an earlier statement<\/a>, the presumptive WTO leader said the WTO is important to global public health and global recovery from the pandemic.<\/p>\n \u201cTime to support the WTO to get to work on important global issues. The world cannot continue to wait,\u201d Okonjo-Iweala said.<\/p><\/blockquote>\n<\/blockquote>\n The result of the selection of the new Director-General is quite historic as it assures that the 7th Director-General will become the first woman to lead the organization. \u00a0With Minister Yoo\u2019s withdrawal from her bid in the WTO, Ms. Okonjo-Iweala is also going to become the first black woman and first African to assume the coveted and influential post.<\/p>\n According to her biography<\/a> posted on the WTO website, Ms. Okonjo-Iweala from Nigeria is a global finance expert, an economist, and an international development professional for over 30 years. She is currently the Chair of the Board of Gavi, the Vaccine Alliance.<\/p>\n Dr. Okonjo-Iweala, who is also a US national, also served twice as Nigeria\u2019s Finance Minister and briefly acted as Foreign Minister. She also had a 25-year career at the World Bank.<\/p>\n\n
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