JUST IN: Okonjo-Iweala Emerges WTO Director-General

• Okonjo-Iweala becomes the first African and first female DG of the WTO

A former Nigerian minister of finance, Ngozi Okonjo-Iweala, has been confirmed the first female Director-General of the World Trade Organization.

She was announced the new DG of the trade body in a statement by the WTO on Monday.

The United States government had last week announced its endorsement of Okonjo-Iweala for the top job.

Read also: Okonjo-Iweala Gets EU’s Blessing For WTO Job

Okonjo-Iweala, a former World Bank executive, became the likely pick for the coveted post after her final challenger to the position, South Korean Trade Minister and candidate, Yoo Myung-hee, announced her withdrawal.

Yoo made the decision after discussions with the U.S. and other major nations, a statement from Korea’s trade ministry had said on Friday.

She also took various issues into account “comprehensively” including the need to revitalise the multilateral organization, reports said Friday.

Last October, the WTO selected Okonjo-Iweala and Yoo to advance to the final round in the race to lead the Geneva-based trade body.

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