At the concluding session the 13th Ministerial Conference (MC13) in Abu Dhabi today, World Trade Organisation (WTO) member nations renewed the commitment to have a fully and well-functioning dispute settlement system by 2024.

They also vowed to improve use of the special and differential treatment (S&DT) provisions for developing and least developed countries (LDCs) to make those more precise, effective and operational.

WTO officials were instructed to accelerate discussions, build on the progress already made and work on unresolved issues.

The members also agreed to continue negotiations in all areas where convergence was elusive at MC13.

The meeting ended by adopting a Ministerial Declaration setting out a forward-looking, reform agenda for the organisation, an official release said.

In another first, ministers engaged in conversations on how trade relates to two pressing issues that go to the heart of current political, economic and environmental challenges, namely sustainable development and socioeconomic inclusion.

WTO director general Okonjo-Iweala emphasised the recognition by members of “the role trade and the WTO can play in empowering women, expanding opportunities for micro, small, and medium-sized enterprises (MSMEs,) and achieving sustainable development in its three dimensions – economic, social and environmental."

The members agreed to maintain the current practice of not imposing customs duties on electronic transmissions until MC14 or March 31, 2026, whichever is earlier. The moratorium and the Work Programme will expire on that date.

They also agreed to extend the moratorium on non-violation and situation complaints regarding the Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS) until MC14.

MC13 also saw the entry into force of new disciplines on services domestic regulation, which is expected to lower trade costs by over $125 billion worldwide. Supported by 72 WTO members, this joint initiative is designed to facilitate services trade by streamlining and simplifying regulatory procedures.

Fibre2Fashion News Desk (DS)

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