Okonjo-Iweala for WTO D-G, as Korean rival quits

The coast seems to be clear for Nigeria’s Ngozi Okonjo-Iweala to become the next Director General of the World Trade Organization (WTO) following the withdrawal of  South Korean Trade Minister, Yoo Myung-hee, from the race on Friday.

A statement from Korea’s trade ministry noted that Yoo decided to quit the race after discussions with the U.S. and other major nations, and took various issues into account, including the need to revitalize the multilateral organization.

She stated: “There was no consensus. So we needed enough time for in-depth consultations with important members, including the U.S.”