Aid for Trade Global Review concludes with commitment to keep adapting to changing needs
Under its three themes of food security, digital connectivity and mainstreaming trade into development agendas, the event examined how international partnerships can be ramped up to help developing economies and least-developed countries (LDCs) share more fully in the benefits of trade. “I hope the discussions will inform trade and development interventions with all the benefits that they bring for improving people's living standards in developing economies,” DDG Zhang said. “As we start to embark on our work ahead, I hope that participants can build on the experiences and knowledge shared this week.”
Ministers, high-ranking government officials, heads of international organizations, policymakers and representatives from academia, the private sector and civil society attended the event.
At the closing session, Nepal's Ambassador to the WTO and chair of the Committee on Trade and Development, Ram Prasad Subedi, said: “This week, we have witnessed engaging discussions, dynamic exchanges and fruitful collaborations by the global trade and development community, all convened around one common goal: to advance trade as a powerful engine for development.”
Underlining that the initiative is celebrating its 18th year, DDG Zhang said: “Discussions and results from the monitoring and evaluation exercise confirm that Aid for Trade remains relevant. At the same time, the global trading landscape is evolving and so is the development co-operation.”
Discussions during the Review emphasized that the Aid for Trade initiative needs to keep adapting to the evolving needs of developing economies as they face the challenges of multiple crises affecting the global economy.
At the closing session, WTO members exchanged information on recent Aid for Trade projects and confirmed their commitment to continue to evaluate developing economies' changing needs. Members called for an increase in well-targeted disbursements to produce concrete outcomes, with LDCs emphasizing how indispensable Aid for Trade is to help them address the challenges they face.
The event also saw the publication of various reports, namely:
Details on the Review's 61 sessions can be found here.
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