Al Mansouri: UAE believes in importance of multilateral trading system within the framework of the WTO

Abu Dhabi (WAM): Sultan bin Saeed Al Mansouri, Minister of Economy, yesterday affirmed that the UAE believes in the importance of a multilateral trading system within the framework of the World Trade Organisation and that the agreement to facilitate trade will have a positive impact on businesses, especially the global economy in general. Al Mansouri delivered a speech as he chaired the 3rd meeting of the National Committee for the World Trade Organisation at the Ministry of Economy in Dubai, said that the opening up of the country's economy and its flexibility to the movement of trade and the advanced positions obtained in various international reports in this regard will enable it to deal with the agreement to facilitate trade and to achieve desired gains. Al Mansouri pointed out that the "National Committee for the World Trade Organisation", as a representative of various influential sectors in the economic and trade fields in the country, will be able to propose the UAE's stance about various issues of trade negotiations on the agenda of negotiation in the World Trade Organisation, which will contribute to maximise the gains of UAE's trade and maintain its rights and the implementation of its commitments towards WTO. Al Mansouri pointed out the importance of the Ninth World Trade Organisation Ministerial Conference, which was attended by a large delegation from the UAE including representatives of various ministries, departments, agencies and institutions, federal and local government, especially the announcement on the agreement of trade facilitation which will bear a positive impact on business sectors and facilitate business and the global economy. He referred to the focal role of the WTO in global trade liberalisation and in promoting the performance of the multilateral global trading system and its achievement of stability and transparency of international trade transactions, as well as its further role in the resolution of commercial disputes. Al Mansouri stressed the importance of local follow-up through national teams competent to work on the implementation of this Convention and other resolutions issued by the conference. – Emirates News Agency, WAM