South Korean Trade Minister Yoo Myung-hee has dropped her bid to lead the World Trade Organization, clearing the way for Nigeria's Ngozi Okonjo-Iweala . SEOUL: South Korea's trade minister Yoo Myung-hee said on Friday she has withdrawn from the race to lead the World Trade Organization , clearing the way for members to appoint the first African and the first woman to lead the global trade watchdog.
Yoo, who was a finalist selected from among eight candidates to lead the body, said her decision was made after consulting with allies including the United States. Observers say the WTO is facing the deepest crisis in its 25-year history. It has not clinched a major multilateral trade deal in years and some of its functions are paralysed due to the actions of the former Trump administration.
Singapore Latest News, Singapore Headlines
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