Home S. Korean Trade Minister, Nigerian Development Economist Face off to lead WTO

S. Korean Trade Minister, Nigerian Development Economist Face off to lead WTO

The World Trade Organization(WTO) has formally announced that South Korean Trade Minister Yoo Myung-hee and Ngozi Okonjo-Iweala, a former finance minister of Nigeria, are the two finalists to turn out to be the subsequent chief of the international trade authority. Both candidate would be the first lady to helm the WTO in its historical past.


[Sound bite: World Trade Organisation spokesman Keith Rockwell]
“… the advice is that Ngozi Okonjo-Iweala of Nigeria and Korean minister Yoo Myung-hee will advance to the third and closing stage of consultations.” 

South Korean Trade Minister Yoo Myung-hee and former Nigerian Finance Minister Ngozi Okonjo-Iweala have superior to the ultimate spherical within the race to turn out to be the subsequent director-general of the World Trade Organization(WTO). 

WTO spokesperson Keith Rockwell introduced on Thursday {that a} selection committee made the choice after assembly with the 5 remaining candidates.

[Sound bite: World Trade Organisation spokesman Keith Rockwell] 
“Each of the ladies which might be within the closing spherical are remarkably properly certified. That is one thing on which everybody has agreed. We have been impressed with them from the very starting, they’re folks with lengthy expertise coping with tough points like these.”

The 53-year-old South Korean commerce minister helped with the enlargement of the nation’s commerce community by means of bilateral commerce pacts with the U.S., China, the European Union and the U.Ok. All through her marketing campaign, Yoo has pledged to share Korea’s expertise with WTO member countries. 

[Sound bite: S. Korean Trade Minister Yoo Myung-hee (July 16, 2020 / English)] 
“I’m really in one of the best place to know all members’ issues and pursuits at WTO. As I discussed earlier than, I’ve constructed my profession in commerce within the Korean authorities within the final 25 years and I personally witnessed Korea develop from one of many much less developed nations to turn out to be one of many largest buying and selling nations by means of the multilateral buying and selling system, so I consider that each one different members ought to have the identical alternatives that Korea may get pleasure from for its financial improvement.”  

Okonjo-Iweala, 66, served two phrases as finance minister and a brief stint as foreign minister of Nigeria. The Harvard-trained development economist spent 25 years of her profession on the World Bank, serving finally as a managing director.

The brand new WTO director-general is coming at a time of stress for the trade physique. Amid worsening commerce disputes with China, U.S. President Donald Trump has constantly blamed the WTO for being unfair after which paralyzed its dispute settlement appellate physique by blocking the appointment of its judges.   

The earlier WTO director-general, Roberto Azevedo of Brazil, introduced his resignation in Might and stepped down in August amid intense strain, citing a “private resolution.”

The following WTO chief will probably be determined by consensus after the subsequent spherical of consultations run by means of Oct. 27. The winner is predicted to be introduced not less than by early November.
Kim Bum-soo, KBS World Radio Information.



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