ABU DHABI: Switzerland supports the plurilateral initiatives in the World Trade Organisation (WTO) for their important role in driving global investments and climate action, according to the country’s head of the State Secretariat for Economic Affairs (SECO), Helene Budliger Artieda.
Switzerland, as a net investment exporter, supports the Investment Facilitation for Development (IFD) Initiative that aims to develop a global agreement to improve the investment and business climate, she told the Emirates News Agency (WAM) at the WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi.
Secretary Artieda also mentioned that her country is part of a plurilateral climate initiative at the WTO, which aims to create a system where environmental-friendly goods and services can be traded without tariffs and technical hurdles. She emphasised that trade and environmental issues go hand in hand.
She addressed the concerns of some developing countries who argue that plurilateral initiatives are against the letter and spir
it of the WTO as they do not require consensus decision-making involving all WTO members.
Switzerland is listening to their concerns and trying to bridge the gap, the official stressed.
Secretary Artieda observed that many developing countries, including least-developed countries (LDCs), are in favour of initiatives such as the IFD as they need foreign direct investment to create jobs in their economies.
Swiss official expressed Switzerland’s interest in a free and rule-based global trade and a robust dispute settlement system at the WTO.
She emphasised that Switzerland is working to restore a two-tier dispute settlement system with an appellate body.
Regarding e-commerce, the state secretary said Switzerland supports extending the moratorium on imposing customs duties on digital trade.
Switzerland is open on the negotiations on agriculture, she noted.
The Swiss official commended the UAE for hosting MC13 and praised the nation’s efforts in fostering a conducive atmosphere for international collaborati
on.
She affirmed the close partnership between Switzerland and the UAE, highlighting their excellent trade and investment ties.
The UAE is hosting the WTO Ministerial Conference (MC13) after successfully organising COP28, the UN Climate Conference in Dubai in December.
Around 164 nations and trading blocs are participating in MC13, the WTO’s top decision-making body, which meets usually every two years.
Source: Emirates News Agency