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The United States government has stated why it supports the Korean Candidate against the popular choice of former Nigerian finance minister, Ngozi Okonjo-Iweala, emerging as the director-general of the World Trade Organisation (WTO).
According to the U.S trade representative on the WTO Director-General selection process statement, late Wednesday said it supported the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General because she is “a bona fide trade expert who has distinguished herself during a 25-year career as a successful trade negotiator and trade policymaker.”
The statement said the minister has all the skills necessary to be an effective leader of the organization.
“This is a very difficult time for the WTO and international trade,” the statement said.
“There have been no multilateral tariff negotiations in 25 years, the dispute settlement system has gotten out of control, and too few members fulfill basic transparency obligations.”
Although the U.S. did not mention Mrs. Okonjo-Iweala, it however said that “The WTO is badly in need of major reform. It must be led by someone with real, hands-on experience in the field.”
As a result of this, Mrs. Okonjo-Iweala’s ambition suffered a setback as the United States failed to endorse her for the top job.
Having moved a step closer to becoming the first African and first woman to be Director of the global trade watchdog after securing the support of a key group of trade ambassadors in Geneva, the former Nigerian minister’s candidacy is being rejected by the U.S who raised last-minute objections to the process of selecting the new director-general.
A WTO spokesperson on Wednesday said Mrs. Okonjo-Iweala’s candidacy would be put to a meeting of the body’s governing general council on November 9.
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