Dr. Ngoni Okonjo -Iweala

The United States government on Friday endorses former Nigeria’s minister of finance, Dr Ngozi Okonjo-Iweala, for the position of director general of the World Trade Organization.

The endorsement of Okonjo-Iweala followed the withdrawal of South Korean Trade Minister and candidate, Yoo Myung-hee, the only remaining contender against the Nigerian from the contest.

The South Korean announced her withdrawal after discussion with the US and other major nations, the Korea Trade Ministry said in a statement.

While announcing declaration of support for Okonjo-Iweala, the U.S. office of trade representative said, “The United States takes note of today’s decision by the Republic of Korea’s Trade Minister Yoo Myung-hee to withdraw her candidacy for Director General of the World Trade Organization (WTO).

“The Biden-Harris Administration is pleased to express its strong support for the candidacy of Dr. Ngozi Okonjo-Iweala as the next Director General of the WTO. Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.

“She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.

“The Biden-Harris Administration also congratulates Minister Yoo Myung-hee on her strong campaign for this position. She is a trailblazer as the Republic of Korea’s first female trade minister and the first candidate from Korea to advance this far in the Director General selection process. The United States respects her decision to withdraw her candidacy from the Director General race to help facilitate a consensus decision at the WTO.”