ABU DHABI: The European Union is contributing EUR 1 million (about CHF 950,000) over the period 2024-2025 to finance training programmes for government officials from developing economies, including least-developed countries (LDCs). The contribution to the WTO Global Trust Fund will help developing economies and LDCs deepen their expertise on WTO issues and strengthen their skill set to effectively implement trade rules at the WTO.
The Global Trust Fund finances around 280 activities a year, mostly tailor-made training activities delivered at national and regional level, covering various trade-related areas including agriculture, services and trade facilitation. Close to 2,800 activities have been organised under this fund over more than 20 years.
The European Commission’s Executive Vice-President Valdis Dombrovskis, said during the 13th WTO Ministerial Conference held from 26 to 29 February in Abu Dhabi: “The EU remains strongly committed to the WTO and to further integrating developing countries – especia
lly least-developed countries – into the multilateral trading system. We are pleased to continue supporting their economic development through the WTO. We believe our financial contribution is particularly timely in view of the current need for enhancing multilateral trade governance.”
WTO Director-General Ngozi Okonjo-Iweala said: “I thank the European Union for generously supporting the WTO’s capacity-building programmes which aim to equip policymakers in developing economies and LDCs with solid trade-related skills. The objective is to help them widen their countries’ trading opportunities so that more people may benefit from sustainable economic development and growth.”
Overall, the EU has contributed CHF 33 million (EUR 34.6 million) to the various WTO trust funds over more than 20 years.
Source: Emirates News Agency