Headed by His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy, the World Trade Organization National Committee hosted its third meeting at the Ministry of Economy in Dubai to review the outcomes of the ninth World Trade Organization Ministerial Conference held in Bali, Indonesia in December 2013.
The meeting reviewed a presentation on the work of the national trade-facilitation team. The efforts of the National Committee’s technical team comprising the goods and services trade team, government procurement team, and trade facilitation team was also brought under focus. In addition, the work of the WTO Committee in the context of Gulf Cooperation Council countries was also examined.
In his opening address, His Excellency Al Mansouri expressed his appreciation to the members of the WTO National Committee and the technical teams for their efforts, pointing out that as a representative of various sectors that influences all areas of economic and trade in the country, the committee is mandated to negotiate various commercial topics listed in the negotiations agenda of the World Trade Organization. The efforts will facilitate the UAE to maximize its commercial gains, protect its rights and fulfill its obligations towards the WTO.
Al Mansouri highlighted the World Trade Organization’s central role in global trade liberalization, enhancing the performance of the Multilateral Trading System, and in achieving stability and transparency in international trade transactions, as well as its increasing role in resolving commercial disputes.
He further stressed on the importance of the ninth WTO Ministerial Conference, which was attended by a large delegation from the UAE that included representatives of various ministries, departments, agencies, and federal institutions. He noted that all countries including the UAE believe in the importance of the Multilateral Trading System, and know that any new failure in negotiations work will directly impact the credibility of the WTO.
Highlighting the importance of the trade facilitation agreement ratified at the conference, Al Mansouri said the agreement will positively impact all business segments to the ultimate benefit of the commercial landscape and global economy.
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Nael Abdul Aziz
Thursday, May 1- 2014 @ 15:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.