Global Review concludes with a declaration on partnerships for trade and development
The declaration recognises the importance of technical assistance and capacity building for implementing WTO rules and facilitating the integration of developing economies, including least developed countries (LDCs), into the global trading system. It acknowledges the evolving development cooperation context and recognises the need to explore, attract and scale up additional resources through trade and development cooperation, including by leveraging grant, concessional finance and blended finance to catalyze effective private sector partnerships.
"This is an example of how we are working to renew the WTO - brick by brick," WTO Director-General Ngozi Okonjo-Iweala said in welcoming the declaration.
"Members made this declaration possible. The challenge now will be to make it count - to work together to do much more for growth and development worldwide. So let us carry today's spirit beyond this room into greater opportunities people can see - and seize," said the Director-General.
Ambassador Elmer José Germán Gonzalo Schialer Salcedo of Peru, Chair of the Committee on Trade and Development, said: "This declaration is a result of active engagement of all members. The leadership of Australia and Barbados has been exemplary. This is the first multilateral outcome on this topic after 20 years, and it gives a renewed impetus to this initiative."
Members also considered a communication by India on trade-related capacity-building. The communication highlighted India's South-South and triangular cooperation efforts, including through the Indian Technical and Economic Cooperation (ITEC) Programme, which has helped strengthen skills of over 80,000 participants since 2014.
The Chair encouraged members to maintain momentum and to keep working on building stronger partnerships that help expand trade opportunities for all. "Discussions over the past two days show what sustained support can achieve, and they also remind us how much more remains to be done," he said.
The text of the declaration will be available here (WT/COMTD/AFT/2 - to be issued).
More information about the Global Review is available here.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
