ABU DHABI: Ralph Ossa, Chief Economist at the World Trade Organisation (WTO), has praised the UAE’s commitment to trade liberalisation, including development of green and digital trade globally, citing the country’s focus on low tariffs, export diversification, and active participation in the multilateral trading system, and joint statement initiatives.
In statements to the Emirates News Agency (WAM), Ossa said that the UAE is a natural fit for hosting the ministerial conference, noting the country’s focus on low tariffs, export diversification, and active participation in the multilateral trading system, and joint statement initiatives.
He lauded the success of the WTO Ministerial Conference in Geneva, MC12, affirming the organisation’s plans ‘to build on this momentum here in Abu Dhabi’.
‘There are many important items on the agenda where we are hoping to make significant progress. Agenda items include, for example, the reform of our dispute settlement system, constraints on subsidies that lead to harmfu
l overfishing and also e-commerce.”
The WTO chief economist highlighted the great importance of green and digital trade and service, describing these sectors as ‘the future of trade’, especially in light of the current boom in digital trade and the promising growth of green trade globally.
The WTO’s 13th Ministerial Conference (MC13) will take place from 26 to 29 February 2024 in Abu Dhabi. Ministers from across the world will attend to review the functioning of the multilateral trading system and to take action on the future work of the WTO.
Source: Emirates News Agency