U.S Gives Reasons For Selection Of Korean Trade Minister Ahead Of Okonjo-Iweala

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The United States Trade Representative, Robert Lighthizer,  has, explained  reasons the United States supports the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General, ahead of elected Ngozi Okonjo-Iweala, Nigeria’s former Finance Minister.

Robert explained that it moved against the elected Director-general of the World Trade Organisatin, WTO, because of  the fact that the UN agency was in dire need of reform which must be driven by ‘’someone with real, hands-on experience.’’

In a statement issued by the office of the US, “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.

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“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.”

The argument against Okonjo-Iweala had always been that she has no direct trade experience. But addressing the WTO in July, the former minister of finance said, while refuting the claim: “I am a development economist and you cannot do that without looking at trade. Trade is a central part of development. ‘

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’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.”

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Okonjo-Iweala had on Wednesday,  won the popular vote to become the next DG and had the nod of the three ambassadors saddled with the responsibility of picking the next leader of the trade body. But at a WTO delegates meeting to discuss the appointment, the US expressed opposition to her election — the US was the only country opposing her election. Keith Rockwell, spokesman of the WTO, said just one member country did not support Okonjo-Iweala.

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