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 is 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 gotten the popular vote by a large mile 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 ever female World Trade Organisation Director General.
However, there are speculations that the US might change its position on their preferred choice following Donald Trump’s failure to get re-elected as president.
After the October 28 meeting, WTO also said Okonjo-Iweala had the best chance of getting a consensus.
Washington Trade Daily quotes sources as saying South Korea has giving notice to the US of its decision and is expected to make it known to the public “in the coming days.”
“Washington refused to accept the recommendation made by the selection panel chaired by General Council Chair Amb. David Walker that Okonjo-Iweala is the candidate most likely of the two to attract consensus because she clearly carried the largest support by members in the final round and clearly enjoyed broad support from members from all geographic regions and has done so throughout the process.
“Yoo from Korea failed to receive enough support from members of all levels of development, the developed, developing and least developing countries, as well as geographically in comparison to the largest support received by Ms Okonjo-Iweala” the report read.
The November 8 general council meeting scheduled to consider the appointment of the next Director General was also postponed.
Another general council meeting has been scheduled for the 17th of December.