The administration of Joseph Biden on Friday declared its support for former Nigerian Finance Minister Ngozi Okonjo-Iweala to serve as the World Trade Organization’s next director-general.
The decision contrasts with the Trump administration which stood against Okonjo-Iweala becoming the head of the World Trade Centre ( WTO).
With the US now backing the Nigerian Okonjo-Iweala the coast is now clear for her to be officially announced as the head of the global trade organization
South Korean Trade Minister Yoo Myung-hee withdrew her bid for the position on Friday. The Trump administration backed Yoo for director-general in October, but Okonjo-Iweala had support from almost all of the WTO’s 164 member countries.
Yoo’s withdrawal signals the end of months of uncertainty over who will lead the WTO for at least the next four years. Yoo and Okonjo-Iweala were the last candidates from an initial field of eight and the first women to be seriously considered for the role. Roberto Azevêdo of Brazil stepped down as director-general in August, a year before his term expired.
“It is particularly important to underscore that two highly qualified women made it to the final round of consideration for the position of WTO Director-General — the first time that any woman has made it to this stage in the history of the institution,” the Office of the U.S. Trade Representative wrote Friday in an unattributed statement.
Late last month, the administration signaled its support for quickly installing a new director-general. President Joe Biden spoke with South Korean leader Moon Jae-in on Wednesday, though neither country indicated that the WTO position was discussed.
Okonjo-Iweala, who became a U.S. citizen in 2019, would be the first woman and the first African to lead the WTO. A trained economist, she spent the bulk of her career at the World Bank, eventually holding its No. 2 posts as managing director of operations. She twice served as Nigeria’s finance minister.
“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 USTR office wrote in its statement.
Okonjo-Iweala tweeted Friday that she was “grateful for the expression of support” from the U.S. and congratulated Yoo on a “hard fought campaign.”
What’s next: The WTO’s next General Council meeting is scheduled for March 1-2, but a special session to appoint Okonjo-Iweala could now be called sooner.
