Muhammad Al-Hawaij, Libyan Minister of Trade and Economy, confirmed that his country is discussing with the World Trade Organization regarding changing from an observer to a member of the organization.
Al-Hawaij said, in statements to the Emirates News Agency, WAM, on the sidelines of the activities of the first day of the Thirteenth Ministerial Conference of the World Trade Organization, which is being held in the capital, Abu Dhabi, that joining the organization and obtaining its membership requires several stages and steps, including the formation of technical committees during which the extent of benefiting from… The Libyan economy from joining and its contribution to the diversification of our national economy.
He stressed the importance of the conference that brings together the countries of the world, whether they are members of the organization or observers, in steps aimed at anticipating the future prospects of global trade. He noted that the UAE’s success in organizing this huge event confirms its efforts to support the development of the World Trade Organization in light of the changes that the global economy is witnessing with the entry into force. Digital economy.
Al-Hawaij said that the thirteenth Ministerial Conference comes at an appropriate time with the aim of achieving tangible results in light of the developments the world is currently witnessing.
The conference, which launched on Monday and continues until February 29, will witness a number of events, programs and sessions, with the aim of improving the effectiveness of trade policies and programmes.
The Ministerial Conference represents the highest deliberative body in the World Trade Organization, which is the international organization concerned with regulating and facilitating global trade. It is the largest economic organization in the world, and includes 164 countries, representing 98% of the global trade movement and the global gross domestic product.
The conference brings together trade ministers and senior officials from all over the world, with the aim of holding discussions on the rules and regulations governing global trade activities, exchanging ideas and visions about appropriate solutions to the challenges facing international trade, and exploring ways to enhance economic development.
This global event, hosted by the capital, Abu Dhabi, is an important opportunity for leaders, ministers and decision-makers from all over the world to mobilize consensus efforts on the main pressing issues to stimulate global trade. As the host country of the conference, the UAE is working to create the appropriate atmosphere that ensures that all the opinions of representatives of the member states of the World Trade Organization are heard, to build consensus on the issues presented at the conference.
The opening ceremony of the Thirteenth Ministerial Conference also witnessed the official accession of the Comoros and East Timor to the World Trade Organization, as the first two new members since 2015, bringing the number of members of the organization to 166 countries. Membership in the organization will allow the two new countries to participate fully in the international trading system, accelerating their development efforts and providing more incentives for the international investments necessary to support their economies.
The Thirteenth Ministerial Conference includes an integrated program of meetings and negotiation sessions between delegations, aiming to develop the global trade system, and focusing mainly on charting a clear path for the organization’s work in the future. (Al-Ain News)
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2024-05-02 10:59:32
