WTO Chief Economist Lauds UAE's Dedication To Global Trade Liberalisation

Ralph Ossa, the Chief Economist at the World Trade Organisation (WTO), has recently commended the United Arab Emirates for its dedication to advancing trade liberalisation on a global scale. This includes efforts in the realms of green and digital trade. Ossa's comments were made in an interview with the Emirates News Agency (WAM), where he highlighted the UAE's strategic approach towards maintaining low tariffs, fostering export diversification, and actively engaging in the multilateral trading system through joint statement initiatives.

Ossa pointed out that the UAE's commitment makes it an ideal host for the upcoming WTO Ministerial Conference. He reflected on the success of the previous conference in Geneva, known as MC12, and expressed optimism about building on this positive momentum in Abu Dhabi. The agenda for the 13th Ministerial Conference (MC13), scheduled from 26 to 29 February 2024, is set to cover critical topics such as reforming the dispute settlement system, addressing subsidies that contribute to harmful overfishing, and enhancing e-commerce.

The WTO's chief economist underscored the significant potential of green and digital trade sectors, describing them as pivotal to the future of global commerce. With a surge in digital trade activities and promising developments in green trade, these sectors are poised for further growth. Ossa's remarks underscore the importance of these areas in shaping a sustainable and digitally inclusive global trading environment.

The 13th Ministerial Conference in Abu Dhabi will serve as a crucial platform for ministers from around the world to assess and enhance the functioning of the multilateral trading system. The conference aims to address several key issues that are vital for the future work of the WTO, reflecting a collective effort to adapt to evolving global trade dynamics. The selection of Abu Dhabi as the venue highlights the UAE's growing influence and active role in shaping international trade policies.

In summary, Ralph Ossa's statements to WAM shed light on the UAE's strategic contributions to global trade liberalisation efforts. The upcoming WTO Ministerial Conference in Abu Dhabi is anticipated to be a significant event, focusing on essential aspects such as dispute settlement reforms, subsidy regulations, e-commerce, and notably, green and digital trade. These discussions are crucial for fostering a more inclusive, sustainable, and digitally advanced trading framework worldwide.

With inputs from WAM