The United States says South Korean Trade Minister Yoo Myung-hee is more qualified than Nigeria’s Ngozi Okonjo-Iweala to lead the World Trade Organisation (WTO).
In a statement issued by the office of the US trade representative on Wednesday, the world power said the WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.
“The United States supports the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General,” the USTR, led by Robert Lighthizer said.
“Minister Yoo is a bona fide trade expert who has distinguished herself during a 25-year career as a successful trade negotiator and trade policy maker. She has all the skills necessary to be an effective leader of the organization.
“This is a very difficult time for the WTO and international trade. There have been no multilateral tariff negotiations in 25 years, the dispute settlement system has gotten out of control, and too few members fulfill basic transparency obligations.
“The WTO is badly in need of major reform. It must be led by someone with real, hands-on experience in the field.”
Okonjo-Iweala, the former Minister of Finance in Nigeria has kicked back saying she is very experienced and qualified to lead the WTO.
Addressing the WTO in July, Okonjo-Iweala defended her record as a trade expert, outlining her achievements as Finance Minister.
“I am a development economist and you cannot do that without looking at trade. Trade is a central part of development. So, I have been doing it. My whole career at the World Bank, I was working on trade policy reform in middle and low-income countries at the bank,” she said.
“As finance minister, the customs service in my country reported to me. And that is all about trade facilitation. I helped my country’s negotiation with my trade minister on the ECOWAS common external tariffs. I don’t know how much more trade you can have than that.
“So those who say I don’t have trade, they are mistaken. I think the qualities I have are even better, because I combine development economics with trade knowledge, along with finance, and you need those combination of skills to lead the WTO. I think I have the skills that are needed. I am a trade person.”
According to reports, the former minister polled 104 votes from 164 member countries to defeat her South Korea’s trade minister opponent, at the final stage of the race.
