By Jeph Ajobaju, Chief Copy Editor
Okonjo-Iweala will become the director general of the World Trade Organisation (WTO), with news that South Korea has withdrawn its Trade Minister Yoo Myung-hee, in a quiet diplomatic move by Joe Biden, the incoming United States president.
Biden has promised executive actions right from his inauguration on January 20, 2021 to reverse the obstructionist policies of President Donald Trump and restore the U.S. to global leadership.
Myung-hee was the preferred candidate of Trump, whom Americans voted out of office on November 3 and is now a lame duck, who alone countered the choice of Okonjo-Iweala by the majority of the 164 WTO member-countries.
Washington Trade Daily quoted people familiar with the development to have disclosed that South Korea will soon announce the withdraw of Myung-hee to enable the WTO General Council appoint Okonjo-Iweala.
“Korea plans to withdraw Trade Minister Yoo from the race for new WTO director-general, paving the way for Nigeria’s Ngozi Okonjo-Iweala to be the next DG and the first woman and African in the role,” the publication said on its Twitter handle.
It quoted sources as saying that South Korea has notified the U.S. government of its decision and would make the decision public in the coming days.
Broad support for Okonjo-Iweala
The report said “Washington refused to accept the recommendation of the selection panel headed by General Council Chair, Ambassador David Walker that Okonjo-Iweala is the most likely candidate of the two to attract consensus.
“This is because she had the largest support of members of the panel at the final round and clearly enjoyed broad support from members from all levels and geographic regions and had done so throughout the process.”
It added that Myung-hee could not garner enough support from members of all levels of development; the developed, developing, and least developing countries, as well as geographically – compared with the “largest” support received by Okonjo-Iweala.
The WTO had disclosed that during the selection process, the majority of its members indicated “strong preference for Ngozi Okonjo-Iweala as DG.”
It quoted Walker in a statement as saying that “she (Okonjo-Iweala) clearly carried the largest support by members in the final round and she clearly enjoyed broad support from members from all levels of development and all geographic regions and has done so throughout the process.”
Washington Trade Daily explained that part of the reason for the position adopted by Trump against Okonjo-Iweala is that she is perceived to be close to the Democratic Party in the U.S.
However, The Guardian (UK) also reports that she has “[secured] the overwhelming backing of the WTO’s 164 members.” Her supporters include the European Union (EU), a block of 27 members, China, and Australia.
Okonjo-Iweala, though born in Nigeria, has from her teenage years lived in the U.S., where she attended Harvard and MIT, and worked for the World Bank for 25 years during which she rose to the post of managing director.
She has American citizenship and there is nothing in her to suggest she will work against American interest at the WTO, which is based in Geneva. She will rather strike a balance to protect the interest all nations, including the U.S., her country.
The WTO postponed its General Council meeting scheduled for November 9 after the Geneva Canton imposed new restrictions on meetings because of a resurgence of coronavirus cases.
Most of WTO meetings are being held virtually through internet platforms. A quorum of 82 members must be present at the meeting for the General Council to take decisions
It has scheduled another meeting for December 17.
Biden to overturn Tump’s policies
CNN reports that “ … Biden has pledged to reassert the United States’ leadership role on the global stage through a series of day-one executive actions that would mark a drastic turn from outgoing President Donald Trump’s policies.”
Officials at meeting the WTO General Council had planned for November 9 had been set to put Okonjo-Iweala forward as the candidate most likely to attract a majority, after most countries expressed a preference for her over Yoo Myung-hee.
The WTO said the meeting was postponed until further notice, during which time it would continue undertaking consultations with delegations from countries around the world to pick a new leader.
“For reasons including the health situation and current events, delegations will not be in a position to take a formal decision on 9 November,” the WTO explained in a statement.
The Guardian quoted trade experts as saying that Biden defeating Trump in the election “may have led to countries calling for a delay in the WTO leadership race, with the aim of securing the Biden White House’s backing for Okonjo-Iweala after he takes charge in January.”