ABU DHABI: The international trade community has converged in Abu Dhabi for the 13th World Trade Organization (WTO) Ministerial Conference, a pivotal event set to address pressing issues such as accessibility to the global trading system, intellectual property rights, and dispute resolution. Running from February 26 to March 1, this conference brings together a diverse group of stakeholders, including trade ministers, senior officials from across the globe, and representatives from the WTO’s 175 member states, alongside leaders from the private sector, non-governmental organizations, and civil society.
The agenda for the four-day conference is ambitious, aiming to advance discussions on creating a trading system that is not only more efficient and sustainable but also inclusive. By enhancing the effectiveness of trade policies and programs, the conference seeks to foster an environment conducive to global economic development. This year’s gathering is particularly significant as it seeks to capitalize on the momentum generated by the previous ministerial conference in Geneva, June 2022, which made notable progress in supporting critical areas like fisheries, food security, and e-commerce.
In his opening remarks delivered via video, Saudi Commerce Minister Majid Al-Qasabi emphasized the conference’s role in commemorating the WTO’s 30th anniversary. He highlighted the collective aspiration to achieve meaningful outcomes that would reinforce confidence in the multilateral trading system, currently facing numerous challenges. Al-Qasabi extended a warm welcome to Comoros and Timor-Leste, the newest members of the WTO, signifying the ongoing expansion and inclusivity of the global trade body. He also voiced Saudi Arabia’s support for the Agreement on Fisheries Subsidies, acknowledging its potential to contribute significantly to the economic growth and development of WTO member countries.
Stressing the importance of collaborative efforts, Al-Qasabi reiterated Saudi Arabia’s commitment to working alongside all member states to secure the success of the 13th ministerial conference and future endeavors. He underscored the kingdom’s dedication to constructive dialogue and meaningful engagement aimed at enhancing the global trade framework.
The WTO, since its establishment in 1995, serves as the cornerstone of international trade regulation, promoting fair and open trade across its member states. Its biennial ministerial conference represents the supreme decision-making entity within the organization, providing a forum for member countries to review, negotiate, and fortify the treaties that form the backbone of the global trading system.
In the lead-up to the conference, WTO Director General Ngozi Okonjo-Iweala unveiled an initiative aimed at empowering female entrepreneurs in developing countries with a $50 million fund. This initiative seeks to harness the digital economy to address financing challenges and explore untapped opportunities for women, who are pivotal to driving economic growth and development. The UAE has shown strong support for this cause, with contributions to the fund and additional grants aimed at bolstering several WTO initiatives, reflecting the country’s commitment to fostering a more inclusive and equitable global trade environment.
As the conference progresses, participants will engage in critical discussions and negotiations aimed at overcoming current global trade challenges and shaping a future trading system that benefits all. The outcomes of this conference are eagerly anticipated, as they will set the direction for the WTO’s efforts in the coming years, aiming to enhance global trade practices and economic development worldwide.
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