UAE grants $10 million to support World Trade Organization initiatives.

 


Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs for the UAE, declared a generous $10 million grant to support various significant initiatives of the World Trade Organisation (WTO). This announcement was made in the context of the ongoing 13th Ministerial Conference (MC13) of the WTO, hosted and chaired by the UAE in Abu Dhabi from February 26-29.

The allocated funds from the UAE will contribute to the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy (WEIDE) Fund, which is set to be inaugurated during MC13. These initiatives, considered vital by the WTO, aim to enhance global trade sustainability and inclusivity, particularly for Developing and Least Developed Countries (LDCs).

MC13, as the highest decision-making body of the WTO, is convening leaders, ministers, and representatives from the organization's 166 Member States in Abu Dhabi. The conference is pivotal for negotiations on crucial trade matters and discussions surrounding the modernization of global trading system rules.

Sheikh Abdullah extended congratulations to the Republic of Comoros and the Republic of Timor-Leste for their accession to the World Trade Organization, an announcement scheduled during MC13. He expressed optimism about more countries joining the WTO, highlighting the potential benefits derived from participating in the multilateral trading system.


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