Abu Dhabi: Members of the World Trade Organization (WTO) wrapped off the 13th Ministerial Conference (MC13) in Abu Dhabi by adopting a Ministerial Declaration that outlined the organization’s reform objectives going ahead.
Several ministerial decisions were also made by the ministers, such as reaffirming the goal of having a fully operational dispute settlement system by 2024 and enhancing the application of the special and differentiated treatment (S&DT) rules for developing and least developed nations (LDCs). At MC13, they also decided to carry on talks in any area where consensus was elusive.
The conference, which was originally set for February 26–29, was extended to find a consensus on the many topics involved.
In the Abu Dhabi Ministerial Declaration, members pledged to maintain and enhance the multilateral trading system’s capacity, of which the WTO is at the center, to address contemporary trade issues.
Given that services account for more than half of all jobs and provide more than two thirds of the world’s economic output, members acknowledged the relevance and significance of services to the global economy.
They urged the pertinent WTO authorities to keep up their efforts to examine and expand upon all the lessons discovered during the COVID-19 pandemic and to quickly develop workable remedies in the event of future pandemics.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and MC13 Chair, thanked members for their active engagement during the Conference. He noted that while not everything that delegations set out to accomplish could be delivered, the commitment shown will further strengthen the multilateral trading system.