ABU DHABI: The Netherlands is looking forward to the upcoming 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) in Abu Dhabi later this month for key decisions on dispute settlement and trade and industrial policy, Geoffrey van Leeuwen, Dutch Minister for Foreign Trade and Development Cooperation, told the Emirates News Agency (WAM).
The restoration of a fully-functioning dispute settlement system is a top priority for the Netherlands, he said in an email interview from Amsterdam.
The next priority is the launch of a work programme on trade and industrial policy to jointly work on strengthening a level playing field for industrial subsidies, van Leeuwen added.
UAE’s support to multilateral trade
After successfully organising COP28, the UN Climate Conference in Dubai in December, the UAE is set to host MC13 from 26th to 29th February 2024 in Abu Dhabi.
The ministerial meeting will convene representatives of 164 nations and trading blocs.
The Dutch minister expressed his ‘appreciati
on and gratitude to the UAE’ for its exceptional organisation of COP28.
‘Once again, the UAE’s leadership in hosting the MC13 is impressive. It demonstrates that the UAE is also a strong supporter of the multilateral trade system,’ van Leeuwen emphasised.
Critical reforms
MC13 will seek key reforms to the global trading system, including expanding WTO membership, devising stronger dispute resolution mechanisms, and adopting digital trade frameworks.
The ministerial meeting also aims to address challenges such as supply-chain disruption, inflation, protectionism, and climate change. In addition, MC13 will explore ways to boost investments in trade technologies for sustainable and resilient supply chains.
‘As an open economy, the Netherlands is a strong supporter of a rules-based multilateral trading system,’ the Dutch minister asserted.
The Netherlands is in favour of expanding WTO membership as it believes trade can bring sustainable economic development to all, he said.
‘In addition, we would also lik
e to see a further integration of trade and environment issues in the WTO agenda to help combat climate change.’
Strengthening digital trade is an important issue, van Leeuwen noted, expressing his hope that it will be part of the positive outcomes of the MC13.
Green future for Dutch-UAE ties
As two seabound nations, the Netherlands and the UAE have great potential in global trade with their unique geographic position, the minister stressed.
Like the Netherlands, the UAE is also a logistics hub for many products in its region, he pointed out. ‘Connecting our ports further enhance our distribution capabilities. That is why UAE invested in Rotterdam port, creating a terminal for DP World.’
Both countries have a green future with potential to create a distribution hub in Europe for green hydrogen produced in the UAE. ‘It definitely merits further consideration.’
11 CEPAs support global trade
The UAE has taken up the initiative to host MC13, a prominent global meet, given the country’s increasingly importa
nt role as a global logistics hub. The Emirates advocates for a more inclusive global trading system as a champion for increasing engagement of the Global South in international trade.
In 2021, the UAE started forging the Comprehensive Economic Partnership Agreement (CEPA) with major partners worldwide. The CEPAs aim to establish more open, sustainable and mutually beneficial trading relations by removing barriers to trade in goods and services, simplifying customs procedures and streamlining supply chains.
The UAE has concluded CEPA with 11 countries such as India, Indonesia, Israel, Trkiye, South Korea, Cambodia, Colombia, Georgia, Mauritius, Congo-Brazzaville and Costa Rica. The first four agreements have already come into effect.
Source: Emirates News Agency
