Minister for Trade Yoo Myung-hee on Sept. 27 is at Incheon International Airport before departing for Europe for the second phase of the appointment process for the next head of the World Trade Organization. (Yonhap News)

By Xu Aiying and Lee Hana

Bloomberg on Oct. 4 said European Union member states are nearing an agreement to support the Korean and Nigerian candidates for the head of the World Trade Organization (WTO).

With EU support, Minister for Trade Yoo Myung-hee stands a chance to move on to the third round to become one of the two finalists for the position.

Quoting "officials familiar with the matter," the American media giant said, "EU member-country envoys plan on Oct. 5 to endorse Ngozi Okonjo-Iweala, Nigeria's former finance minister, and Yoo Myung-hee, South Korea's trade chief, in their bids to become WTO director-general."

The report added that according to one official, "of the 27 EU countries, only Hungary withheld support at a Brussels meeting on Friday of national trade experts for a plan to put Okonjo-Iweala and Yoo on the bloc’s new shortlist." The same official reportedly said "this resistance may be overcome at Monday's higher-level gathering."

Five of the eight candidates in the first round have advanced to the second: Minister Yoo; Okonjo-Iweala; former chair of the WTO Ministerial Conference Amina C. Mohamed (Kenya); Mohammad Maziad Al-Tuwaijri, former Saudi Arabian minister of economy and planning and now a minister-ranked adviser at the Saudi Royal Court; and former British Secretary of State for International Trade Liam Fox.

The second round began on Sept. 24 and runs through Oct. 6, when the WTO announces the two finalists for the third and final round. 

Bloomberg said the world trade body will name its new leader by Nov. 7.

Bloomberg on Oct. 4 said EU governments are nearing an agreement to support the Korean and Nigerian candidates for director general of the World Trade Organization. (Screen shot of Bloomberg website)

xuaiy@korea.kr