Over the past 10 years, the Global Trust Fund has covered on average 50 per cent of the costs allocated to trade-related training activities designed for government officials from developing economies. Services, agriculture and trade facilitation are among the broad range of areas covered.
The UK Ambassador to the WTO, Simon Manley, said: “The UK is pleased to be working with the WTO’s Global Trust Fund to ensure that trade in services – and in particular the Trade in Services for Development initiative – helps developing countries harness the benefits of this sector for job creation and economic development. As the fastest-growing area of international trade, services offer a key pathway for these countries to better integrate into the multilateral trading system.”
The Trade in Services for Development initiative is an Aid for Trade work programme developed jointly by the WTO and the World Bank to help developing economies and LDCs benefit more fully from the economic growth and development opportunities resulting from services trade.
WTO Director-General Ngozi Okonjo-Iweala said: “We are grateful to the UK for generously supporting the WTO’s efforts to boost the trading and negotiating capacities of developing economies and LDCs. This support will help government officials translate the international market opportunities undergirded by WTO rules into concrete benefits for businesses and people in their home countries.”
Overall, the UK has contributed over CHF 14 million (close to GBP 13 million) to the various WTO trust funds over more than 20 years.
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