DGTI attends WTO Informal Ministerial Gathering in India
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At the gathering, attendees discussed the high-level guidance required to take forward negotiations under the WTO and systemic challenges currently facing the WTO. They also shared their views on the way forward on development issues.
Speaking at the gathering, Ms Yan called on Members to exercise political will to preserve the key functioning and credibility of the WTO. "Members should take a balanced and progressive approach in order to make progress and pave way for substantive outcomes at the next Ministerial Conference. Specifically, negotiations and other discussions should proceed on parallel tracks to bring unfinished businesses to fruition and to pursue other initiatives that can reinvigorate the WTO," Ms Yan said.
She pointed out that flexibility and pragmatism are keys to success in the process. "We will play our part to ensure that the process to take the initiatives forward is open and inclusive while developing building blocks for an ultimate multilateral outcome." she added.
On systemic challenges facing the WTO, one urgent issue that must be resolved without further delay is the filling of vacancies in the Appellate Body, she said, adding that the prolonged impasse over the selection process is threatening the proper functioning of the WTO's dispute settlement system.
Ms Yan also raised concerns about the systemic risks brought about by protectionist threats that could dampen global economic growth and unilateral moves that could undermine WTO's rules and commitments that seek to uphold the fundamental principles of non-discrimination, transparency and predictability.
"As a free trade practitioner and staunch supporter of the multilateral trading system, we urge WTO Members to honour their commitments and act within the WTO framework. In this light, we have stated our position clearly on the measures recently announced by the United States," Ms Yan said.
Ends/Tuesday, March 20, 2018
Issued at HKT 20:15
Issued at HKT 20:15
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