South Korean Trade Minister Yoo Myung-hee and World Trade Organization(WTO) Director-General Ngozi Okonjo-Iweala have agreed to work together to reform the global watchdog and overcome the COVID-19 pandemic.
Once rivals for the head position at WTO in a two-way race, the two officials held their first official online meeting on Tuesday since Okonjo-Iweala was sworn in earlier this year, according to the South Korean Ministry of Trade, Industry and Energy.
During the talks, Yoo congratulated the former Nigerian finance minister on her inauguration as the new chief of WTO and conveyed expectations and concerns addressed by member states that she received during campaign, the ministry said,
The South Korean minister also said Seoul will actively support Okonjo-Iweala in her role as WTO chief.
The two also reached consensus on the need for the WTO to lead efforts in re-establishing multilateral trade systems across the world.
They also discussed the WTO’s efforts in dealing with the pandemic and its possible cooperation with South Korea and also agreed to work together to lower the entry barriers for women in trade sectors.