Members Explore Role of Trade as a Tool for Development and the Way Forward
16 January 2025
Geneva, Switzerland – Members of the World Trade Organization (WTO) are meeting in Geneva this week to discuss the role of trade as a tool for development and the way forward.
The meeting is being held against the backdrop of a slowing global economy and rising trade tensions. Members are looking to trade as a way to boost economic growth and create jobs.
“Trade is a powerful engine for development,” said WTO Director-General Roberto Azevêdo. “It can help to lift people out of poverty, create jobs, and improve living standards. But we need to make sure that trade is fair and inclusive, so that everyone can benefit.”
Members are discussing a range of issues at the meeting, including:
- The role of trade in promoting economic growth and development
- The impact of trade on poverty reduction
- The challenges of trade liberalization
- The future of the multilateral trading system
The meeting is expected to produce a number of recommendations on how to strengthen the role of trade in development. These recommendations will be presented to the WTO’s Ministerial Conference in December 2025.
Members are also expected to discuss the way forward for the WTO. The organization is facing a number of challenges, including the rise of protectionism, the impasse in the Doha Round of trade negotiations, and the need to reform the WTO’s dispute settlement system.
Members are looking to the meeting to help them find a way forward for the WTO and to ensure that trade continues to be a positive force for development.
Additional Information
The WTO is an intergovernmental organization that regulates international trade. It was established in 1995 and has 164 members. The WTO’s mission is to promote free trade and to ensure that trade is conducted in a fair and orderly manner.
The Doha Round of trade negotiations was launched in 2001. The goal of the negotiations is to reduce trade barriers and to promote economic growth. However, the negotiations have been stalled since 2008 due to disagreements between members.
The WTO’s dispute settlement system is a vital part of the organization. It allows members to resolve trade disputes peacefully. However, the system is facing a number of challenges, including the fact that the United States has blocked the appointment of new members to the Appellate Body.
The meeting this week is an important opportunity for members to discuss the role of trade in development and the way forward for the WTO. The recommendations that emerge from the meeting will help to shape the future of the organization and of the global trading system.
Members explore role of trade as a tool for development and the way forward
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