WTO Key In Advancing Green Trade For Meeting Global Climate Targets: Finnish Minister

The World Trade Organisation (WTO) plays a pivotal role in promoting the trade of environmental goods and services, essential for nations worldwide to achieve their climate objectives. Ville Tavio, Finland's Minister for Foreign Trade and Development, shared these insights with the Emirates News Agency (WAM) during the WTO's 13th Ministerial Conference (MC13) in Abu Dhabi. Finland, a frontrunner in clean technologies, is advocating for a more open and free trade within this sector.

During the conference, which commenced on Monday and is set to conclude on Thursday, 29th February, at the Abu Dhabi National Exhibition Centre (ADNEC), Tavio highlighted Finland's commitment to achieving climate neutrality by 2035. The country has made significant strides in developing low-energy, clean technologies and integrating them across various sectors through digitalisation. Tavio emphasised the importance of liberalising trade in clean technologies to meet global climate targets.

The MC13 hosts representatives from around 164 nations and trading blocs, making it the WTO's highest decision-making body. Tavio praised the UAE's capability as a host nation, reflecting on his positive experience at the COP 28 Climate Conference held in the Emirates last year. He expressed confidence in the UAE's ability to host future global events of similar magnitude.

Finland supports extending the moratorium on customs duties on e-transmissions, recognizing the sector's growth and advocating for its continued freedom from customs duties. This stance underscores the importance of maintaining a customs-free global trade environment that benefits all parties involved. Additionally, Tavio called for further discussions on the circular economy to promote its best practices worldwide.

A side event at MC13, co-hosted by Finland and the World Economic Forum, focuses on how global trade can facilitate the transition to a circular economy. Tavio stressed the significance of leveraging trade to address global development challenges, particularly by integrating least developed countries (LDCs) more effectively into the international economy.

Finnish-UAE Economic Relations

Tavio underscored the UAE's status as Finland's largest trading partner in the Gulf region. He pointed out opportunities for enhancing trade through digitalisation, where Finland excels globally. The potential for increased trade and investment between both countries is vast, especially in fields such as information and communications technology (ICT), digitalisation, clean energy, and circular economy.

Possible areas for joint ventures include smart city and mobility solutions, as well as innovative technologies in health and education sectors. Tavio reaffirmed Finland's dedication to strengthening bilateral economic cooperation with the UAE, highlighting the mutual benefits of such partnerships.

In summary, Finland's active participation in MC13 underscores its commitment to fostering open and free trade in environmental goods and services. Through collaboration with partners like the UAE, Finland aims to leverage trade as a tool for achieving climate neutrality and addressing broader global development challenges.

With inputs from WAM