UAE is leading efforts to shape future of global trade: Ministers

Ministers of Trade and Industry have commended the UAE’s leading efforts in hosting the 13th WTO Ministerial Conference (MC13). They praised the UAE’s efforts in facilitating constructive dialogue between WTO member states to enhance international cooperation for a sustainable economic future.

The MC13 took place from February 26 through March 1st 2024 in Abu Dhabi where ministers from across the world attended to review the functioning of the multilateral trading system and to take action on the future work of the WTO.

In statements to the Emirates News Agency (WAM), participating ministers said that the UAE’s hosting of this major international conference is a clear indication of its growing influence in reshaping the global trade landscape. They highlighted the UAE’s leading position as a global economic hub that provides responsible financial services and the necessary monetary policies that complement global trade and business sectors.

Reshaping the Trade Landscape: Manoa Kamikamica, Deputy Prime Minister, Minister for Trade, Cooperatives, Small and Medium Enterprises and Communications of the Republic of Fiji, expressed his gratitude to the UAE for hosting the conference and bringing together different countries under one roof to preserve a rules-based multilateral trading system that ensures the prosperity of nations.

He added that the UAE is a leading country in the field of international trade and is an example to follow for the rest of the world after a series of successes and achievements during the past years, which made it a major contributor to shaping the global trade map.

Qais Bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman, said that the 13th WTO Ministerial Conference witnessed a significant momentum in discussions and dialogues between participating countries to shed light on several important issues that support and stimulate international trade, especially in light of the geopolitical tensions the world is witnessing.

The Omani minister pointed out to the UAE’s successful organisation of the conference and its efforts to facilitate constructive dialogue between the WTO’s member states in order to shape the future of global trade.

Facilitating Investments Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco, emphasised the importance of the 13th WTO Ministerial Conference in shaping the future of global trade, noting that the conference provided an opportunity for all member states to debate fairer and more transparent trade measures and procedures.

Mezzour stressed the UAE’s success in organising the ministerial conference thanks to its ability to host major events and gatherings, bringing the world together under one roof to discuss and debate the most important global issues.

He also pointed out that the accession of the Comoros and Timor-Leste to the WTO’s membership after 8 years is an indication of the organisation’s attractiveness and importance.He pointed out that the conference discussed the rules and regulations governing global trade activities, ways of cooperation to reach a more efficient, sustainable, and inclusive trading system, in addition to improving the ability of developing and least developed countries to access the global trading system, intellectual property, and the dispute settlement mechanism in the WTO.Mohamed Al Ashwwal, Minister of Industry and Trade of the Republic of Yemen, highlighted the UAE’s leading role in supporting and promoting global trade.

He explained that the convening of the conference in the UAE is a clear indication of the great progress the country has made in becoming a regional and international influencer in global trade, in addition to being an incubator for commercial activity in the region and the world.

Successful Edition Miguel Marques Gonçalves Manetelu, Minister of Transport and Communications of the Democratic Republic of Timor-Leste, praised the UAE’s successful organisation of the conference, noting that the event managed to shape the future of global trade.

He considered his country’s accession to the WTO membership to be one of the most prominent announcements witnessed by the conference, along with the accession of the Comoros, which will contribute to supporting the economies of the two countries, in addition to benefiting from the expertise of the member states in the field of trade and engaging in the global trade movement.

Mohamed Al Huwaij, Libyan Minister of Trade and Economy, said that the UAE’s success in hosting and organising the conference confirms its efforts to support the development of the WTO in light of the changes the global economy is witnessing.

He added that the 13th Ministerial Conference comes at a time when the world is witnessing geopolitical tensions that affect supply chains, which in turn impact the movement of global trade.

Atheer Al-Ghareeri, Iraqi Minister of Trade, stressed the importance of the ministerial conference, which was exceptionally organised by the UAE, in addition to its role in discussing the future of global trade in line with the current challenges the world is facing.