FORMER Nigeria’s Finance Minister, Ngozi Okonjo-Iweala, has received the backing of European Union governments to emerge the next Director General of the World Trade Organisation (WTO), just as South Korea’s Minister of Trade, Yoo Myung-hee will, both of them among the three women out of the five contenders for the top position, Bloomberg reported on Monday.
This was disclosed by Bloomberg on Monday after a source at the EU revealed the candidates the union would support, as the date to select a leader comes to a final chapter.
The five remaining candidates include Ngozi Okonjo-Iweala (Nigeria), Liam Fox (UK), Amina Chawahir Mohamed Jibril (Kenya), Yoo Myung-hee (South Korea), and Mohammad Maziad Al-Tuwaijri ( Saudi Arabia).
The last two aspirants will be declared after 6th October, while a winner will be announced by 7th November.
The vacancy came in August, following the resignation of Roberto Azevedo of Brazil one year shy of his tenure end.
Still confronting shocks from the coronavirus crisis, WTO is also challenged by the trade war between the United States and China and is seeing a moment of structural turbulence, marked by “a hobbled administrative system” and absence of capacity to resolve industrial subsidy issues.
Okonjo Iweala, who also was a former managing director in charge of operations at the World Bank, scaled the hurdle of the first round of votes, where three candidates failed to proceed to the current stage.