UAE to invest in supporting initiatives in favour of developing countries

Ministers and representatives of G-33 member countries met on the sidelines of the 13th WTO Ministerial Conference in Abu Dhabi, UAE, and expressed appreciation to the conference for strengthening a transparent rules-based multilateral trading system.

Leaders met on the sidelines to exchange views on the progress of the WTO trade negotiations on agriculture, and to discuss the Group's priorities for outcomes and further action.

The World Trade Organisation (WTO) said it will receive a donation of US$10 million from the United Arab Emirates to support initiatives for developing and least developed countries

The financial contribution will be channelled to three WTO trust funds: the Fisheries Financing Facility, the Enhanced Integrated Framework (EIM) and the Women Exporters in the Digital Economy (WEIDE) Fund. This is reported by ANI, a partner of TV BRICS.

The assistance is also timely, he said, as it illustrates the United Arab Emirates' fundamental role as host of MC13, where "such initiatives can flourish and make a tangible difference on a global scale".

"We believe the 13th WTO Ministerial Conference provides an important opportunity to reinforce a rules-based, non-discriminatory, open, fair, inclusive, equitable, and transparent multilateral trading system with the WTO at its core, and thank the United Arab Emirates for hosting the Conference," the G-33 ministerial statement read.

The conference will last from 26 to 29 February.

Russia is taking part in the ministerial conference for the fifth time, and the Russian delegation is headed by Maxim Reshetnikov, Head of the Ministry of Economic Development of the Russian Federation.

Photo: IStock