WTO: EU Backs Okonjo Iweala In Race, As Jostle For Top Job Reaches Final Stretch |The Source

By Akinwale Kasali

Nigeria’s Former Finance Minister, Ngozi Okonjo- Iweala, has taken a big leap in the race to become the Director General of the World Trade Organization, WTO.

Iweala now has only South Korean trade Chief, Yoo Myung-Hee to contend with.

The battle between the two has further polarised the European Union governments, which are drumming support for the last two standing in the race to lead the World Trade Organization as the race enters its final month.

EU member-country envoys agreed on Monday in Brussels to endorse Okonjo-Iweala and Myung-hee, in their bids to become WTO Director-General, according to an official familiar with the matter, in a Bloomberg report

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

It plans to announce two finalists after today, Tuesday, 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.