China’s Minister of Commerce Wang Wentao signed two memoranda of understanding for the financing with WTO Director-General Ngozi Okonjo-Iweala in Yaounde, Cameroon, where the 14th WTO Ministerial Conference (MC14) is under way.
In two separate contributions, China recently pledged $1.1 million this year to support the WTO Least-Developed Countries (LDCs) and Accessions Programme—also known as the China Programme—as well as the general fund that supports WTO technical assistance.
The first contribution of $600,000 is for the China Programme, while the second, worth $500,000, is for the WTO’s Global Trust Fund.
The first contribution of $600,000 is for the China Programme, which was launched in July 2011 under the WTO-led Aid for Trade initiative, a WTO release said. The programme aims at enabling LDCs to better integrate into the global economy by strengthening their participation in WTO activities and helping those not yet members join the WTO.
The China Programme finances activities to support an internship programme at the WTO, China round tables on WTO accessions, increasing participation of LDCs in WTO meetings, South-South dialogue on LDCs and development, follow-up workshops to LDCs’ trade policy reviews, LDCs Experience Sharing Programme, and capacity building and dialogue on current issues.
The programme has also contributed to financing the participation of LDC government officials in WTO ministerial conferences.
The second contribution of $500,000 is for the WTO’s Global Trust Fund, which supports a wide spectrum of WTO technical assistance and capacity building work with developing and least developed country members in areas spanning accession, agriculture, internship programmes, trade negotiation skills, standards and digital trade.
Since 2008, China has contributed over $11 million to assist developing economy members and observers, especially LDCs, in integrating more fully into the multilateral trade system. This marks the second year in a row that China has contributed to the Global Trust Fund.
Fibre2Fashion News Desk (DS)
