In a significant move to empower developing and least-developed economies (LCDs) in the realm of global trade negotiations, the German government has pledged EUR 500,000 (approximately CHF 480,000). This generous contribution was formalized through the signing of a Memorandum of Understanding by Germany's Alternate Permanent Representative to the World Trade Organization (WTO), Bettina Waldmann, on October 19, 2023.
The allocated funds from Germany will be channeled into the WTO's Global Trust Fund, a vital initiative that has been instrumental in organizing training workshops for government officials since its inception in 2001. These workshops are designed to enhance the understanding of multilateral trade rules and fortify the negotiating capabilities of officials from developing economies and LCDs. To date, nearly 2,800 workshops have been conducted under the auspices of this crucial program.
In expressing her gratitude, WTO Director-General Ngozi Okonjo-Iweala commended Germany for its generous support, emphasizing its positive impact on the trading capacities of developing economies and LCDs. She noted that this initiative will open doors for more people in these countries to tap into the vast opportunities presented by international trade.
Bettina Waldmann, representing the German government, highlighted the nation's unwavering commitment to the Global Trust Fund and the propagation of international trade rules. She expressed gratitude to all those involved in promoting the ideals of global trade and expressed hope that a multitude would benefit from Germany's substantial contribution.
Germany's dedication to this cause is underscored by its long-standing financial support. Over nearly 25 years, the nation has contributed approximately CHF 26.6 million to the Global Trust Fund. This sustained commitment reflects Germany's strong belief in the importance of fostering equitable participation in global trade and ensuring that developing economies and LCDs have the tools and knowledge necessary to thrive on the international stage.
This generous contribution from Germany serves as a testament to the collective efforts of the international community in promoting fair and inclusive global trade practices. It represents a step towards a more interconnected world where opportunities are shared and prosperity is accessible to all, regardless of economic status.
