South Korean Trade Minister Yoo Myung-hee ended her campaign to lead the World Trade Organisation, leaving former Nigerian Finance Minister Ngozi Okonjo-Iweala as the likely candidate for the job and setting up a key decision by WTO members to approve her appointment.
Her withdrawal could help thaw the deadlocked race to lead the Geneva-based WTO at a moment when the organisation is struggling to surmount a series of crises that have diminished its role in the international trading system. Okonjo-Iweala congratulated Yoo on her “long campaign” and welcomed South Korea’s commitment to rebuilding and enhancing multilateralism, the Nigerian’s spokesperson Molly Toomey said in a statement.
John Denton, secretary-general of the Paris-based International Chamber of Commerce, urged a quick appointment of Okonjo-Iweala.
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