WTO MC13: UAE pledges $10m to boost fair trade

In a move highlighting its commitment to a fairer and greener global trading system, the UAE announced a $10m grant to support key World Trade Organisation (WTO) initiatives.

The announcement came as the UAE prepares to host the WTO’s 13th Ministerial Conference (MC13) from February 26 to 29 in Abu Dhabi.

Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, praised the UAE’s role as host of the MC13, welcoming leaders and representatives from 166 member states.

He emphasised the importance of collaborative negotiations to modernise global trade rules and promote sustainable and inclusive economic growth.

Grant to support WTO programmes

The $10m grant will be divided among three critical initiatives:

• Fisheries Funding Mechanism: This programme helps countries implement the WTO’s agreement on fisheries subsidies, promoting sustainable fishing practices.
• Enhanced Integrated Framework (EIF): This initiative supports Least Developed Countries (LDCs) to use trade as a tool for growth and poverty reduction.
• Women Exporters in the Digital Economy (WEIDE) Fund: This newly launched programme, co-created by the WTO and the International Trade Center, aims to empower women-led businesses in LDCs to access global markets through digitalisation.

These initiatives align with the UAE’s strategic goals of promoting sustainable development and fostering international partnerships.

Sheikh Abdullah reiterated the UAE’s commitment to expanding its economic cooperation worldwide through its comprehensive economic partnership agreements programme.

The MC13 conference will be a crucial platform for addressing key trade issues and shaping the future of the global trading system.