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Business News of Friday, 5 February 2021

Source: www.mynigeria.com

Okonjo-Iweala to be the new DG of World Trade Center?

Ngozi Okonjo-Iweala Ngozi Okonjo-Iweala

Former Minister of Finance, Ngozi Okonjo-Iweala is the last woman standing vying for the position of the next Director-General of the World Trade Center.

Nigerian Okonjo-Iweala and South Korean Yoo Myung-hee were the two contenders for the WTO position until Myung-hee withdrew her candidacy.

In a statement released by the Korean Ministry of Trade today Friday, February 5, 2021, Yoo pulled out of the race after discussions with the U.S. and other major nations.

The withdrawal comes after several former U.S. government officials appealed to US President Joe Biden to endorse Okonjo-Iweala.

During Trump's administration, Okonjo's selection was halted due to the selection process which demands that decisions are made on the basis of a consensus of its members.

Okomjo-Iweala who is also a U.S. citizen, emerged as the number one candidate for the WTO director-general post last year.

Although she remains the sole candidate left in the race would she appointed the next Director-General of the World Trade Center?