WTO 'Must Live Up To Its Importance', Says Swiss Minister
Date
6/13/2022 1:05:43 AM
(MENAFN- Swissinfo)
'WTO clear off!' protesters get their message across in Geneva on Saturday © Keystone/ Valentin Flauraud
The World Trade Organization (WTO) serves to secure peace, prosperity and a sustainable economy, said Economics Minister Guy Parmelin at the opening of the WTO's 12th Ministerial conference in Geneva on Sunday.
This content was published on June 12, 2022 - 16:04 June 12, 2022 - 16:04 Keystone-SDA/ts
Following Covid-related delays, the WTO's highest-level meeting is being held for the first time in four-and-a-half years, with issues such as pandemic preparedness, food insecurity against the backdrop of Russia's war in Ukraine and overfishing of the world's seas on the agenda.
“Now more than ever the WTO must live up to its importance. First of all, peace must reign again,” Parmelin said, adding that in view of the war in Ukraine the system, with its common rules, must be strengthened.
He said the challenges remain great –“be it climate change, health, biodiversity or prosperity” – and solutions needed to be found quickly, stressing that their feasibility depended on the will of the 164 member countries.
“The WTO is an institution in search of solutions and common rules. Its successes are tangible because world trade is an engine of growth,” he said.
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