United Arab Emirates will chair the 13th Ministerial Conference of the World Trade Organization

The world of international trade is abuzz with anticipation as the United Arab Emirates (UAE) takes the helm to chair the 13th Ministerial Conference of the World Trade Organization (WTO). Dr. Thani Al Zeyoudi, the UAE Minister of Foreign Trade, has been elected as the President of this prestigious conference, which is scheduled to take place in Abu Dhabi in February 2024.

United Arab Emirates will chair the 13th Ministerial Conference of the World Trade Organization

A Noteworthy Announcement

The exciting news was officially revealed by Director General Goji Okunjo Iweala at the General Assembly meeting of the World Trade Organization in Geneva. Representatives from a staggering 164 countries are expected to actively participate in the February 2024 conference. During this critical event, the existing business system will be thoroughly reviewed, and the framework for the upcoming conference will be determined.

Building on Past Success

The 13th Ministerial Conference on World Trade is poised to build on the achievements of the 12th Conference, which took place from 12th to 17th June 2022. Chaired by Mr Timur Suleimanov, the Deputy Chief of Staff of the President of Kazakhstan, the 12th Conference laid the foundation for ongoing global trade collaboration. The forthcoming conference in Abu Dhabi aims to assess the performance of the multilateral trading system and chart the course for the future work of the WTO. It will be instrumental in preparing a roadmap for the 14th Conference, setting the stage for progressive and inclusive trade practices.

Understanding the World Trade Organization

The World Trade Organization (WTO) was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), which was created in the aftermath of World War II. With an impressive membership of 164 countries, accounting for 98% of world trade, the WTO's primary goal is to facilitate trade while ensuring fairness and transparency. Its headquarters are situated in Geneva, Switzerland.

Embracing the Road Ahead

The 13th Ministerial Conference carries immense significance for the global economy. As the UAE takes the reins, it demonstrates the country's growing prominence and commitment to shaping the future of international trade. This milestone conference will play a pivotal role in formulating strategies to overcome challenges, foster economic growth, and encourage sustainable practices.

Conclusion

The 13th Ministerial Conference of the World Trade Organization marks a critical juncture in the evolution of global trade. With the UAE at the forefront, the conference is set to pave the way for enhanced collaboration, fairer trade policies, and a brighter economic future for all nations involved. As February 2024 approaches, the world awaits eagerly to witness the outcomes and decisions that will shape the course of international trade.

FAQs (Frequently Asked Questions)

1. What is the significance of the 13th Ministerial Conference of the World Trade Organization?

   The 13th Ministerial Conference holds immense importance as it shapes the future work of the WTO, reviews the multilateral trading system, and prepares a roadmap for the next conference.

2. Who will chair the 13th Ministerial Conference?

   Dr. Thani Al Zeyoudi, the UAE Minister of Foreign Trade, has been elected as the President to chair the 13th Ministerial Conference.

3. How many countries are expected to participate in the conference?

   Representatives from 164 countries are set to actively participate in the February 2024 conference.

4. Where will the 13th Ministerial Conference take place?

   The conference will be held in Abu Dhabi, the capital city of the United Arab Emirates.

5. What was the outcome of the 12th Ministerial Conference of the WTO?

   The 12th Ministerial Conference laid the foundation for ongoing global trade collaboration and discussions on critical trade-related matters.