EU backs Okonjo-Iweala for WTO job – Report

Okonjo-Iweala may receive backing from the European Union to emerge as the Director-General of the World Trade Organization, Checkout Magazine has learnt.

Reports from Bloomberg suggests that the EU member-country envoys agreed on Monday in Brussels to endorse Ngozi Okonjo-Iweala, Nigeria’s former finance minister, and Yoo Myung-hee, South Korea’s trade chief, in their bids to become WTO director-general,

Hungary swung behind the planned recommendation after being the only EU country to withhold support at a lower-level meeting last Friday of officials representing the 27-nation bloc, the person said on the condition of anonymity because the deliberations were confidential.

Five candidates are still in the race to become the DG of the WTO. It plans to announce two finalists after today and name a winner by Nov. 7.

Brazilian Roberto Azevedo stepped down from the job at the end of August – a year before his term ended. The Geneva-based trade body faces headwinds from the coronavirus pandemic, the U.S.-China trade battle, a hobbled arbitration system and a lack of tools to tackle growing challenges such as industrial subsidies

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