EU Trade Ministers Discuss WTO Reform

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, Nov 25 (KUNA) - European Union trade ministers discussed the ongoing work on the reform of the World Trade Organization (WTO) and preparations for the 13th WTO Ministerial Conference.
They agreed that the EU should play a leadership role in reforming the WTO and that the success of the Ministerial Conference will be key to reconfirming its central role in the multilateral trading system, said an EU statement after the meeting in Brussels on Friday.
Ministers held a discussion on EU-US trade relations, which focused on the Trade and Technology Council (TTC), just ahead of the third meeting that will take place on December 5 in the US.
EU-US trade totaled 1.16 trillion euro (USD 1.6 trillion) in 2021, surpassing the pre-pandemic levels by almost 10 percent.
Ministers underlined the importance of supporting Ukraine in the trade area and note that the war is having a profound negative impact on the ability of Ukraine to trade due to the destruction of production capacity and the unavailability of transport means. (end)
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