US does not support Okonjo-Iweala’s candidacy for WTO

The United States of America may not support Ngozi Okonjo-Iweala’s candidacy for the post of head of the World Trade Organization, SaharaReporter reported.

This represents a setback for Okonjo-Iweala, despite being granted US citizenship in 2019, thus obtaining dual citizenship of Nigeria and the United States.

Meanwhile, the European Union continues to support the appointment of Okonjo-Iweal as WTO Director General.

Experts now believe that the EU and the US, which have historically negotiated similar solutions, may clash.

A senior official familiar with the preparation for the nomination told Sahara Reporters that Okonjo-Iweal’s opponent, Yoo Myung-Hee of South Korea, has the advantage of gaining US support.

While the support has yet to be formalized, the source said US President Donald Trump said he would support a famous person he worked with.

US Trade Representative Robert Lighthizer worked with Myung Hee and is believed to have preferred him.

Okonjo-Iweala is likely to win approval from China, Brazil and Japan, although that hasn’t happened yet.

Officials said the United States will officially announce its preferred candidate on November 7, 2020.

Okonjo-Iweala, who has yet to be declared the winner of the WTO, contrary to social media reports, is promoting the multilateral trading system that the WTO has always relied on, while the Trump administration advocates for bilateral trade.

He also wants to see more access to medicines and vaccines in developing countries.

In addition to pledging to restore world trade to its multilateral legacy, Myung Hee proposes to use his thirty years of trade and diplomacy experience to facilitate US-China relations.

There are 164 WTO members in total, and an agreed candidate must be selected before the announcement is made.

Founded in 1995 to replace the General Agreement on Tariffs and Trade, the WTO is the only global international organization dealing with the rules of trade between countries.

Its main function is to ensure that trade flows are as smooth, predictable and free as possible.

Source: – Sahara Reporter.

Spread the love

Leave a Reply

Your email address will not be published.