The UK Government has announced \u00a313 million in Official Development Assistance (ODA) to enable developing economies to participate more effectively in the global trading system and has transferred \u00a31m to the WTO Fisheries Fund.<\/p>\n
Minister of State at the Department for Business and Trade, Chris Bryant, made today\u2019s announcement at the 14th WTO Ministerial Conference (MC14), being held in Yaound\u00e9, Cameroon.<\/p>\n
The funding package will be distributed across seven key initiatives that work directly with partner governments and business in developing economies to modernise systems and connect with global markets. By helping countries trade effectively, the UK is contributing to a stronger global economy with more reliable trading partners, benefitting developing economies and the UK alike.<\/p>\n
Minister of State for Business and Trade Chris Bryant said:<\/p>\n
\u201cTrade is one of the most powerful tools we have for driving growth and creating opportunity, both at home and around the world. This investment in our Aid for Trade programmes demonstrates the UK\u2019s commitment to a global trading system that works for everyone, not just the wealthiest nations.<\/p>\n
\u201cBy working in partnership with developing countries to overcome barriers to trade, we are opening up new markets for British businesses whilst supporting economic growth where it is needed most. A stronger, fairer multilateral trading system benefits us all.\u201d<\/p>\n
UK Ambassador and Permanent Representative to the WTO, Kumar Iyer, said:<\/p>\n
\u201cThe UK has long been a champion of the rules-based multilateral trading system, and this announcement reinforces our commitment to ensuring it delivers for all WTO members.<\/p>\n
\u201cAt a time of global uncertainty, it is more important than ever that we invest in the institutions and programmes that support countries so they can trade on equal terms.<\/p>\n
\u201cThese contributions are not simply aid, they are investments in shared prosperity and a more stable, predictable global economy.\u201d<\/p>\n
Today\u2019s announcement reinforces the UK\u2019s commitment to strengthen the WTO and increase the integration of developing economies into global value chains, supporting them to meet international standards, and seize the opportunities of the multilateral trading system.<\/p>\n
As trade ministers from WTO member countries gather in Cameroon\u2019s capital, reform of the organisation will be high on the agenda. Building on the policy paper published earlier this month, the UK will be setting out a clear vision for a more relevant, flexible and functional WTO.<\/p>\n
Notes to Editors:<\/p>\n