The United States (US) has contributed US$600,000 to help developing countries and Least-Developed Countries (LDCs) play a bigger role in global trade negotiations.
This donation will finance training and other capacity-building activities for government officials. It will help them develop their expertise on various aspects of the WTO’s work and to enhance their negotiating skills. Over 2,900 activities have been organized under the WTO’s Global Trust Fund over the past 20 years.
Director-General Ngozi Okonjo-Iweala who received the donation, expressed her gratitude to the United States. She further highlighted the significance of the contribution to the multilateral trade system.
“I thank the United States for its continuing commitment to help developing countries and LDCs enhance their trading capabilities. The active participation of all WTO members in the multilateral trading system is essential to maximise the economic benefits that trade can bring to people across the world” .
Director-General Ngozi Okonjo-Iweala
Building a resilient trading system
The United States Trade Representative, Ambassador Katherine Tai also highlighted specific areas of the trade system that the funds are meant for. She noted that the implementation of WTO rules is an important part of a resilient trade policy. According to her, this provides opportunities for sustainable development and poverty reduction in developing and least-developed countries.
“The United States’ contribution to the Global Trust Fund will provide important funding for effective, targeted, and demand-driven technical assistance for developing countries.
“As we work with WTO members to reform and revitalize the WTO, we are pleased to support the ongoing work of the WTO”.
Ambassador Tai added that the US will strengthen local communities and help workers around the world. More importantly as economies work to recover from the COVID-19 pandemic. Overall, the United States has donated over US$26 million to the various WTO trust funds.
Ireland contributed EUR 440,000
On 29 July 2021, Ireland contributed EUR 440,000 to help LDCs increase their trade know-how and play a bigger part in global trade.
The WTO indicated that a total of EUR 200,000 of the funds from Ireland will go to the Standards and Trade Development Facility (STDF). This global partnership brings together public and private sector organizations across agriculture, health, trade and development. It aims at enhancing collaboration, share experiences, and promote sanitary and phytosanitary capacity development in LDCs.
The STDF supports and finances projects in these countries to help farmers, processors, exporters, and governments comply with international standards and connect with global markets.
Overall, Ireland has donated EUR 13 million to the various WTO trust funds over the past 20 years. Coincidentally, this is exactly half of the total contributed by the US over the last two decades.
The WTO is keen on ensuring that all countries have equal access to trade to enhance their economies. As such, member countries have taken it upon themselves to support countries that are still lagging in terms of opportunities and participation in the global trade system.
READ ALSO: NDC will come back to power- John Mahama
