February 27, 2024
2 mins read

Al Zeyoudi: WTO Ensures Trade Stability

The opening session saw the adoption of the accessions of the Comoros and Timor-Leste, both least-developed countries….reports Asian Lite News

In his welcoming speech to the 13th WTO Ministerial Conference (MC13), Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Chair of MC13, stressed the historically important role the WTO has played to provide “stability, transparency and predictability for international trade,” contributing to “raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services” around the world.

The opening session saw the adoption of the accessions of the Comoros and Timor-Leste, both least-developed countries.

The President of Comoros, Azali Assoumani, and the President of Timor-Leste, José Manuel Ramos-Horta, signed the respective Protocols of Accession to the WTO, which were also signed by WTO Director-General Ngozi Okonjo-Iweala. Both governments will now submit their protocols for ratification by their legislative assemblies. In keeping with WTO rules, Comoros and Timor-Leste will become members of the WTO 30 days following the deposit of their respective instruments of acceptance of the Protocol.

Dr Al Zeyoudi said, “The decisions we have just taken on the accession of the Comoros – an island LDC in Africa – and the accession of Timor-Leste – an island LDC in Asia – testify to the world’s confidence in the WTO and the multilateral trading system. I strongly believe that through their future membership in the WTO, Comoros and Timor-Leste will have stable and predictable frameworks for economic engagement with other nations which will boost trade, growth and prosperity.”

The MC13 opening ceremony also saw a wave of acceptance of the Agreement on Fisheries Subsidies. Eight members deposited their instruments of acceptance of the Agreement, putting the historic agreement for ocean sustainability on track for entry into force at a record pace. Ministers of Brunei Darussalam, Chad, Malaysia, Norway, Rwanda, Saudi Arabia, Togo and Türkiye presented their instruments of acceptance to Director-General Okonjo-Iweala.

The MC13 Chair added, “This is a testament to your governments’ commitment to the sustainability of our oceans and to ensuring that multilaterally negotiated outcomes in the WTO are not only agreed – but implemented. As one of the early ratifiers, the United Arab Emirates welcomes the new ratifications as a reaffirmation of this collective commitment.”

ALSO READ: WTO Hails UAE’s Trade Liberalisation

Previous Story

WTO Chief Asks Members to “Roll Up Sleeves”

Next Story

Palestinian PM Resigns Over Gaza War

Latest from -Top News

Hurricane Melissa leaves Caribbean in chaos

Hurricane Melissa leaves a trail of destruction across the Caribbean, claiming lives, wiping out homes, crippling infrastructure and triggering urgent global relief efforts amid rising humanitarian needs…reports Asian Lite News The Caribbean

Sharjah sets sail for London

At World Travel Market (WTM) London 2025, Sharjah is set to highlight both its deep-rooted cultural identity and forward-looking tourism strategy, demonstrating the emirate’s growing influence in global travel and destination marketing…reports

DP World to pump $5bn into India

DP World’s $5bn pledge strengthens India’s maritime future, powering green shipping, ship-repair capacity, talent growth and next-gen freight tech while deepening the nation’s global trade role…reports Asian Lite News DP World has

UAE mega-aid ship docks in Egypt

The shipment, one of the largest single consignments dispatched as part of the UAE’s air and sea bridge, includes essential food items…reports Asian Lite News A UAE humanitarian vessel carrying more than

Arab bloc hails UAE’s efforts in Gaza

Arab Parliament lauds UAE’s major aid efforts in Gaza and urges unified global backing for reconstruction, Palestinian statehood and a lasting peace grounded in the Two-State framework…reports Asian Lite News The Speaker
Go toTop

Don't Miss

Salman Khan’s Being Strong, Danube Dubai to take fitness to next level

Diamondz, a luxurious project by Danube Properties Dubai, becomes the

Al Mazrouei Highlights National Oil Firms’ Green Role

Al Mazrouei urged national oil companies all over the world