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Ministerial
Conference Opens |
The
World Trade Organization’s 11th Ministerial Conference opened in Buenos Aires
on 10 December with a forceful declaration by four Latin American presidents pledging
support for the WTO and its guardianship of the multilateral trading system.
The unprecedented show of support by
the leaders - President Mauricio Macri of Argentina, President Michel Temer
of Brazil, President Horacio Cartes
of Paraguay and President Tabaré Vázquez
of Uruguay – comes as hundreds of trade diplomats, journalists and
representatives of civil society gather in the Argentine capital for the latest
biennial meeting of the WTO's highest decision-making body.
In their joint declaration, the four presidents reaffirmed the
importance of the multilateral trading system as the "best way to take
advantage of the opportunities and to face the challenges of international
trade".
They also underlined the importance of
preserving and strengthening the multilateral trading system, including its
dispute settlement system, in order to promote rules "based, open,
transparent, inclusive, non discriminatory and
equitable trade embodied in the WTO, providing it with the tools it needs to
face the challenges of the 21st century".
The joint statement of the four
presidents was supported by representatives of Colombia, Guyana, Mexico, Peru
and Suriname, who also signed the declaration at the conference's opening
ceremony.
"Trade has been a key source of
growth and development," Argentina's President Macri
declared. "However, we know that
the benefits haven't been shared by everybody, and that has given rise to
challenges and a questioning of economic globalization."
"It is our joint responsibility to
rise to the challenges of the 21st century and ensure that they become
opportunities for a more inclusive future," he continued. "As the host country, we want to set
the basis for the discussion on how to make the multilateral trading system
more efficient, to help it become an engine for development."
DG Azevędo
noted that during and after the financial and economic crisis in 2008, the
world did not erect trade barriers as in the past. Less than 5% of world
imports have been affected by restrictive measures since the crisis. In
comparison, global trade shrank by two thirds during the Great Depression of
the 1930s, when protectionism was rampant.
The 11th Ministerial Conference (MC11),
which will run until 13 December, is being chaired by Minister Susana Malcorra of Argentina.
Trade officials will discuss a range of issues over the next three days,
including agriculture, development, fisheries subsidies, domestic regulation of
services, and electronic commerce