Following the rejection by the United States of Ngozi Okonjo-Iweala to be appointed the next Director General of the World Trade Organization, Okonjo-Iweala was not crowned the head of the WTO despite massive support by other member countries.
TheUnited States has however given reasons why it is not in support of the former Nigerian Finance Minister, Ngozi Okonjo-Iweala, to be appointed as the Director-General of the World Trade Organisation.
Out of 164 member countries of the WTO, 163 member countries canvassed their support for Ngozi Okonjo-Iweala to lead the World Trade Organisation on Wednesday, she however could not be declared the new Director General of the WTO because of the objection raised by the United States.
The United States instead supported the appointment of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General.
According to the United States Trade Representatives, Minister Yoo is a bona fide trade expert who has 25-year career expertise as a successful trade negotiator and trade policy maker.
The US explained that the WTO and international trade are in a very critical time. The United States also acknowledged that no multilateral tariff negotiations has been in existence for in the last 25 years.
The US further noted that WTO is urgently in need of major reform and should thus be led by someone who has experience in the field.