- Trump had blocked Okonjo-Iweala but Biden team still reviewing
- Former U.S. officials have urged Biden to pick Okonjo-Iweala
South Korean Trade Minister Yoo Myung-hee, Friday, withdrew her bid to lead the World Trade Organization, leaving former Nigerian Finance Minister Ngozi Okonjo-Iweala as the only remaining candidate for the job and setting up a key decision by WTO members to approve her appointment.
Yoo decided after discussions with the U.S. and other major nations, and took various issues into account including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday.
“There was no consensus,” Yoo said. “So we needed enough time for in-depth consultations with important members, including the U.S.”
The withdrawal comes after dozens of former U.S. government officials urged President Joe Biden to endorse Okonjo-Iweala after the Trump administration blocked her selection in 2020, making the U.S. and Korea the only holdouts favoring Yoo.
That opposition was enough to halt the selection process because WTO decisions are made on the basis of a consensus of its members.
By quitting the race, Yoo would appear to be clearing Okonjo-Iweala’s path to secure the leadership of the Geneva-based institution.
But as the Biden administration forms its trade team, few clues have emerged publicly about whether it will lift U.S. opposition to Okonjo-Iweala’s candidacy. The U.S. mission at WTO headquarters didn’t immediately respond to request for comment on the matter.
Okonjo-Iweala has pledged to take a more active role as director-general and to act as a sounding board to try to find common ground among the trade body’s disparate membership.
If confirmed, Okonjo-Iweala would be the first woman and the first African to lead the organization in its 25-year history.
(Bloomberg)