News

UAE: WTO aims for progress in fisheries, agriculture, and e-commerce amid headwinds

United Arab Emirates
Regulation & Compliances
Innovation & Technology
Published Feb 27, 2024

Tridge summary

The World Trade Organisation (WTO) is hopeful for progress in fisheries, agriculture, and e-commerce at its 13th Ministerial Conference (MC13) in Abu Dhabi. The WTO aims to reach agreements on key fishing and agriculture sectors to tackle sustainability and food security, and is advocating for the ratification of the Fisheries Subsidies Agreement to prohibit subsidies that promote illegal fishing. However, achieving consensus among all 166 member states, as required by WTO rules, is a challenge in the current geopolitical context. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Chair of the MC13, has called for the conference to be a springboard for the future of global trade and reform, urging participants to prove the WTO's ability to deliver significant results and contribute to development.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Abu Dhabi: The World Trade Organisation (WTO) is hopeful for fisheries, agriculture, and e-commerce breakthroughs amid economic and political headwinds at its 13th Ministerial Conference (MC13). The world’s trade ministers have gathered in Abu Dhabi, starting Monday (February 26), for the high-level WTO meeting, where ministers aim to forge agreements on key fishing and agriculture industries to address sustainability and food security. Early Monday, WTO members welcomed more formal acceptances of the Fisheries Subsidies Agreement at the opening ceremony. “With the 70 we’ll have this week, we’ll now have 40 members to go, so the countdown towards entry into force can start in earnest,” said Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation. The WTO struck a fisheries agreement 2022 that banned subsidies contributing to illegal, undeclared and unregulated fishing. The organisation now hopes to conclude a second deal, focusing on subsidies that drive overcapacity ...
Source: Gulfnews
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