WTO,DG Okonjo-Iweala encourages members to continue advancing trade and development work

WTO DG Okonjo-Iweala Encourages Members to Continue Advancing Trade and Development Work

Geneva, October 31, 2024 – World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has called on member countries to continue advancing trade and development work, emphasizing the need to prioritize the concerns of developing and least-developed countries (LDCs).

DG Okonjo-Iweala made these remarks at a meeting of the WTO’s General Council, where she highlighted the progress made in addressing key issues such as fisheries subsidies, agriculture, and public stockholding for food security purposes.

Fisheries Subsidies

“I am pleased to note that members have reached an agreement on fisheries subsidies,” said DG Okonjo-Iweala. “This agreement is a significant step forward for the sustainability of our oceans and the livelihoods of millions of fishers worldwide.”

Agriculture

The DG also acknowledged the ongoing negotiations on agriculture, particularly with regard to domestic support and market access. She stressed the importance of finding solutions that balance the needs of farmers and consumers, while addressing concerns over trade distortions.

Public Stockholding for Food Security

DG Okonjo-Iweala emphasized the need to address the concerns of developing countries and LDCs regarding public stockholding for food security purposes. She called for flexibility and pragmatism in finding a permanent solution that supports the livelihoods of small-scale farmers and ensures access to affordable food for vulnerable populations.

Development Work

The Director-General highlighted the WTO’s continued commitment to supporting developing countries and LDCs through technical assistance and capacity building. She urged members to prioritize capacity building initiatives that enable these countries to fully participate in the global trading system.

Multilateral Cooperation

DG Okonjo-Iweala emphasized the importance of multilateral cooperation and the WTO’s central role in facilitating trade negotiations and resolving trade disputes. She encouraged members to engage constructively and work together to find common ground on outstanding issues.

Conclusion

In concluding her remarks, DG Okonjo-Iweala said, “As we move forward, it is imperative that we continue to prioritize the concerns of developing countries and LDCs, ensuring that trade becomes a tool for inclusive growth and development.”

The General Council meeting was attended by representatives from all 164 WTO member countries.


DG Okonjo-Iweala encourages members to continue advancing trade and development work

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