Page 505 - MOE ENGLISH PR REPORT - FEBRUARY 2024

2/27/24, 3:45 PM Nations call for equal access to WTO and China pledges more support
UAE provides $10 million grant to "Building the technical skills necessary to integrate the complexity of
support WTO initiatives trade policy and negotiation remains challenging."
The future of trade is digital, says
WTO's director general Mena Hassan, a senior economic affairs officer at the WTO, said the
WTO's top-level meeting in Abu Arab world, for instance, faces "unique challenges which further
Dhabi seeks reform amid divisions complicate the accession process" .

"The way we provide technical assistance should be tailored to the
political and economic realities of each acceding government to ensure it can have the most impact
possible," she said.

"While many of the challenges that acceding governments face are unique, Arab acceding
governments can look to the example of their fellow acceding governments when navigating their
own accessions."

China support

China has pledged to expand its role in helping least-developed countries join the WTO

Commerce Minister Wang Wentao said China will work more closely with the body's leadership and
devote greater resources to helping developing countries .

The world's second-largest economy has helped eight less developed countries gain WTO
membership, he added.

"Less developed countries will bolster the international community's confidence in the multilateral
trading system. Accession is but an important step on the way to becoming part of a globalised
economy," Mr Wang said.

"China stands ready to work with all members to see that the [ministerial conference] delivers in
terms of least-developed countries, successions and development."

The accession process begins when WTO members accept an application and establish a working
party and concludes when the membership and the acceding government both accept a negotiated
accession package.

Geopolitical events can also be sticking points that lead to disagreements between the organisation's
members, making consensus on major issues difficult.

“At a time when the world economy faces growing headwinds, including climate change, growing
economic nationalism and disruption to supply chains it is more important that nations come
together to reinforce commitments to free trade, the rules-based trading system, and extending
Feedback
opportunity to all communities," Marco Forgione, director general of the UK-based Institute of Export
and International Trade, told The National.

Updated: February 26, 2024, 7:41 PM

ECONOMY ABU DHABI CHINA

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