The United States has finally backed former Nigeria Minister of Finance , Dr Ngozi Okonjo -Iweala , to lead the World Trade Organisation after several months of delay of the selection process.

This followed the stepping down of South Korea’s Yoo Myung-hee from the contest on Friday.

A statement from the Office of the United States Trade Representative stated: “The United States takes note of today’s decision by the Republic of Korea’s Trade Minister Yoo Myung-hee to withdraw her candidacy for Director General of the World Trade Organization (WTO).

“The Biden-Harris Administration is pleased to express its strong support for the candidacy of Dr. Ngozi Okonjo-Iweala as the next Director General of the WTO.

“Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 vears with the World Bank and two terms as Nigerian Finance Minister.

“The Biden-Harns Administration also congratulates Minister Yoo Myung-hee on her strong campaign for this position. She is a trailblazer as the Republic of Korea’s first female trade minister and the first candidate from Korea to advance this far in the Director General selection process.

“The United States respects her decision to withdraw her candidacy from the Director General race to help facilitate a consensus decision at the WTO.

“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 trme that any woman has made it to this stage in the history of the institution.

“The United States stands ready to engage in the next phase of the WTO process for reaching a consensus decision on the WTO Director General. “The Biden Administration looks forward to working with a new WTO Director General to find paths forward to achieve necessary substantive and procedural reform of the WTO.”

The US said Okonjo-Iweala is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.

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