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2/28/24, 10:19 AM 'Let’s show WTO is alive': UAE foreign trade minister says conference can be 'launch pad' for global trade
Dr Al Zeyoudi underlined that the WTO remains a 'powerful force' in countering the current
unilateral protectionism and discrimination.
“It is an important part of a global effort to attain the UN Sustainable Development Goals
and to ensure an inclusive, equitable, multilateral rules-based trading system.”
Dr Al Zeyoudi underlined that the multilateral trading system is at a 'critical juncture'.
“It is confronting many challenges. We have witnessed a shifting of priorities and
addressing climate change and sustainability issues. Many countries are experiencing
debts and cost of living pressures, food security and a slow recovery from the Covid-19
pandemic.”
The minister pointed out that the world economy and international landscape have
significantly evolved in the face of technological developments.
“The service sector continues to be a key driver of global trade, but traditional sectors like
agriculture remain critical for all countries, small, medium and large. However, the
traditional sectors and traditional assumptions of which WTO has been anchored cannot
stand on their own anymore.”
The opening day saw two least developed countries, Comoros and Timor-Leste, become
WTO members taking the overall tally to 166.
Dr Al Zeyoudi called for 'new thinking' amid a fast-changing trade environment witnessed
globally.
“The growth of the WTO membership and its diverse priority requires a dynamic approach
from the WTO, one that respects the rules that bind us all as WTO members, but also
enables the WTO to advance and be forward-looking to achieve our collective goals.”
He asserted that the UAE is determined to make the Ministerial Conference a success.
“As chairperson, I’m fully committed to creating an environment of comfort for all
delegates, to conduct negotiations freely, frankly, and constructively in the upcoming
days.”
https://www.zawya.com/en/economy/gcc/lets-show-wto-is-alive-uae-foreign-trade-minister-says-conference-can-be-launch-pad-for-global-trade-vxfqce… 3/4
