The World Trade Organisation National Committee, headed by Sultan bin Saeed Al Mansouri, Minister of Economy of the U.A.E., hosted its third meeting at the Ministry of Economy in Dubai, to review the outcomes of the ninth World Trade Organisation Ministerial Conference which was held in Bali, Indonesia in December 2013.
The meeting reviewed a presentation on the work of the national trade facilitation team. The efforts of the National Committee’s technical team, comprising the goods and services trade team, government procurement team, and trade facilitation team, was also brought under focus. In addition, the work of the WTO Committee in the context of Gulf Cooperation Council countries was also examined.
In his opening address, the U.A.E.’s Minister of Economy expressed his appreciation to the members of the WTO National Committee and the technical teams for their efforts, pointing out that as a representative of various sectors that influence all areas of economic and trade in the country, the committee is mandated to negotiate various commercial topics listed in the negotiations agenda of the World Trade Organisation. The efforts will facilitate the U.A.E. to maximise its commercial gains, protect its rights and fulfil its obligations towards the WTO.
Mr. Al Mansouri praised the World Trade Organisation’s central role in global trade liberalisation, enhancing the performance of the Multilateral Trading System, and in achieving stability and transparency in international trade transactions, as well as its increasing role in resolving commercial disputes.
He further stressed the importance of the ninth WTO Ministerial Conference, which was attended by a large delegation from the U.A.E. that included representatives of various ministries, departments, agencies, and federal institutions. He noted that all countries, including the U.A.E., believe in the importance of the Multilateral Trading System, and know that any new failure in negotiations will directly impact the credibility of the WTO.
Highlighting the importance of the trade facilitation agreement ratified at the conference, the Minister of Economy said the agreement will positively impact all business segments to the ultimate benefit of the commercial landscape and global economy.
Source : WAM News Agency for United Arab Emirates