European Union governments will support the Nigerian and South Korean candidates to lead the World Trade Organization as the race enters its final month.
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, according to an official familiar with the matter, according to 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 of officials representing the 27-nation bloc, the person said on the condition of anonymity because the deliberations were confidential.
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Five candidates are still in the running to the lead 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