BREAKING: World Trade Organization Confirms Okonjo Iweala As Director General

World Trade Organization Confirms Okonjo Iweala As Director General.

A former Nigerian finance minister, Ngozi Okonjo-Iweala, has become the first female director general of the World Trade Organization.

Mrs Okonjo-Iweala was confirmed CEO of the trade body in a WTO statement on Monday.

The United States government announced last week its approval of Mrs. Okonjo-Iweala for the top post.

It became clear earlier on Friday that Mrs Okonjo-Iweala, a former World Bank executive, would likely land the coveted post after her latest challenger to the post, South Korea's Trade Minister and candidate, Yoo Myung-hee, had announced its withdrawal.

Ms. Yoo made the decision after discussions with the United States and other major nations, a statement from Korea's Commerce Ministry said on Friday.

It also took into account various issues "globally", including the need to revitalize the multilateral organization, according to reports Friday.

Last October, the World Trade Organization selected Mrs. Okonjo-Iweala and Ms. Yoo to qualify for the final round of the race for the head of the Geneva-based trade body.

However, Mrs. Okonjo-Iweala is widely regarded as the shoo-in among WTO experts and influential figures.

Mrs. Okonjo-Iweala was Nigeria's finance minister during the terms of former Presidents Olusegun Obasanjo and Goodluck Jonathan. She has worked in international governance bodies as the former Managing Director of the World Bank and as President of the Global Alliance for Vaccines and Immunization.

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