At the 11th WTO Ministerial Conference, Lithuania supports an open and rule-based multilateral trading system
At the Eleventh World Trade Organization Ministerial Conference (MC11) on 11 December in Buenos Aires, the Vice-Minister of Foreign Affairs of Lithuania Albinas Zananavičius met with the Director-General of the WTO Roberto Azevêdo and noted that Lithuania strongly believed that multilateral trade rules were beneficial and dedicated special attention to their implementation.
“The rules of the multilateral trading system enable all WTO members to benefit from a stable and predictable trading environment, and to create preconditions for economic growth and job creation,” said Lithuania’s Foreign Vice-Minister.
During the WTO Ministerial Conference on 10-13 December, 164 member countries aim to agree on new rules regulating fair and sustainable fishing, programs to stockpile food for developing countries. In addition, the conference seeks to adopt a future work program, addressing such global trade issues, as digital trade, the elimination of non-tariff barriers to trade, making the regulatory environment more transparent, regulation of services, and domestic support in agriculture.
When speaking at a plenary session, Zananavičius emphasized that the organization’s agenda should address current global challenges, which would help to improve the business environment and contribute to the global economy.
At the EU Foreign Affairs Council on trade issues, which was held on the margins of the WTO Ministerial Conference, Lithuania’s Foreign Vice-Minister said that the EU must maintain its leadership, when seeking ways to further enhance the functioning of the WTO both through the implementation of the existing rules of global trade and finding solutions by negotiating items on the new global trade agenda.
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