UAE provides $10 million grant to support WTO initiatives

Sheikh Abdullah bin Zayed announced the grant to the World Trade Organisation, which is meeting in Abu Dhabi

The 13th WTO Ministerial Conference will be held this month in Abu Dhabi. Pawan Singh / The National
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Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, announced that the UAE will provide a $10 million grant to support several crucial initiatives of the World Trade Organisation.

On Saturday, Sheikh Abdullah welcomed delegates to the WTO’s Ministerial Conference, which opens in Abu Dhabi on Monday and is hosted and chaired by the UAE.

‘’This event is a unique occasion for delegates from all over the world to collaborate and discuss global trade issues and challenges,’’ he said.

Sheikh Abdullah said that the grant to be provided by the UAE will be allocated to the Fisheries Funding Mechanism, the Enhanced Integrated Framework, and the Women Exporters in the Digital Economy Fund that will be launched during the conference.

Sheikh Abdullah expressed his pride that the UAE is hosting the gathering, which is the organisation’s highest decision-making body, and welcomed the 7,000 expected senior officials and representatives of the organisation’s 166 member states to Abu Dhabi.

The meeting will see crucial negotiations on vital trade issues and discussions on how to enhance and modernise the rules of the global trading system.

He also congratulated the Comoros and East Timor on their accession to the WTO. He expressed his hope that more countries will be able to join the organisation and benefit from the multilateral trading system.

Sheikh Abdullah added that through its Comprehensive Economic Partnership Agreements programme, the UAE is now at the heart of international trade and will continue to expand its economic co-operation with the world.

He encouraged representatives of all member states to display a spirit of collaboration and engage in constructive and meaningful negotiations for the benefit of all.

Updated: February 25, 2024, 5:08 AM