Home BUSINESS JUST IN: BUHARI EXCITED OVER BIDEN’S SUPPORT FOR OKONJO-IWEALA

JUST IN: BUHARI EXCITED OVER BIDEN’S SUPPORT FOR OKONJO-IWEALA

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. Experts analyse why US prefers Okonjo-Iweala over Myung-hee

President Muhammadu Buhari has expressed his delight over support by the United States government for the candidacy of Nigeria’s Ngozi Okonjo-Iweala for the position of Director-General of the World Trade Organisation (WTO).

Buhari on Saturday evening wrote on his Twitter handle “Nigeria and the entire African continent are happy about this new U.S position, which signifies a shift and an important turnaround in the relations between our continent and the United States under the Biden administration.”

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On Friday, the United States government through the Office of Trade Representative expressed the support of the government in a statement released.

The statement read “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.  Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.  She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.”

The other contestant for the position of the WTO Director-General, South-Korea’s Minister, Yoo Myung-hee had withdrawn from the contest stating her decision was taken after consultation with the United States government.

Analysts believe that Yoo Myung-hee was pressured to withdraw from the race by the Biden administration in preference for the outstanding qualities of Nigeria’s Okonjo-Iweala.

 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.  Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.  She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.  

The Office of Trade Representative went on to say that “The Biden-Harris 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 time 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-Harris 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.”

Meanwhile, Okonjo-Iweala has signified her intention to finalise the process of becoming the WTO DG.

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