UAE Minister Stresses Sustainable Trade Policies At WTO’s 13th Ministerial Conference

Ahmed bin Ali Al Sayegh, Minister of State, recently took part in a pivotal discussion at the 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) in Abu Dhabi. The focus of this high-level panel, led by Luc Magloire Mbarga Atangana, Minister of Trade of Cameroon and Vice Chair of the conference, was on the role of trade in fostering sustainable development. Representing the UAE, Al Sayegh engaged in the Trade and Sustainable Development Panel, which delved into strategies for reducing the adverse impacts of trade on economic, social, and environmental fronts.

During his address, Al Sayegh emphasized the need for developing countries to adopt industrial policies that are mindful of their environmental and social ramifications. He pointed out that the industrial strategies of the past, which propelled developed nations to their current economic stature, are no longer viable due to their unsustainable nature. "The industrial growth of today represents the greatest challenge since the Industrial Revolution," he remarked, advocating for a more nuanced and effective approach to industrial policy in the 21st century.

Al Sayegh also highlighted the significance of the Marrakesh Agreement, which established the WTO, in promoting trade practices that support sustainable development and environmental conservation. He called on developing countries to bolster their industries by learning from past mistakes and formulating strategies that align with economic objectives while being sustainable.

The UAE minister urged WTO members to enhance their collaborative efforts within the Committee on Trade and Environment. He stressed the importance of utilizing existing mechanisms to improve trade sustainability, aligning with Sustainable Development Goals and ensuring environmental protection. Al Sayegh expressed strong support for the Agreement on Fisheries Subsidies and hoped for its widespread ratification for comprehensive implementation.

The panel discussion also explored ways to advance trade and regulate industrial subsidies through the WTO. The aim is to promote sustainable development, ensure fair opportunities for all, and tackle global challenges such as climate change and youth unemployment. This session underscored the critical role of international cooperation and innovative policies in achieving sustainable development through trade.

With inputs from WAM