Singapore urges ‘responsible consensus’ at WTO meet
ABU DHABI: As the World Trade Organisation’s (WTO) 13th Ministerial Conference (MC13) in Abu Dhabi later this month is set to hold crucial global trade talks, Singapore has urged WTO members to take a consensual approach.
“To secure meaningful deliverables at MC13, members must exercise ‘responsible consensus’, by seeking mutually beneficial approaches, showing openness to trade-offs, and approaching negotiations in an objective and evidencebased manner,” Jane Lim, Deputy Secretary for Trade at the Ministry of Trade and Industry of Singapore, said in an email interview with Emirates News Agency (WAM).
She made these remarks as MC13 aims for pivotal reforms into the global trading system, spanning from expanding WTO membership to strengthening dispute resolution mechanisms and adopting digital trade frameworks.the WTO 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.
Lim underscored that as a small and open economy, Singapore is a strong supporter of the rules-based multilateral trading system, with the WTO at its core.
Ater successfully organising COP28, the UN Climate Conference in Dubai in December 2023, the UAE is set to host MC13 from 26th to 29th February 2024 in Abu Dhabi.
The WTO ministerial meeting will convene representatives of 164 nations and trading blocs.
UAE’S constructive role The Singapore official stressed that the UAE has been a constructive player in global trade and is well-placed to facilitate meaningful outcomes at MC13.
The Chair of MC13, Dr Thani Bin Ahmed Al Zeyoudi, the UAE’S Minister of State for Foreign Trade, has been consulting members extensively in the lead-up to MC13, Lim noted. “Under the able Chairmanship of Dr Thani, we look forward to working closely with the UAE to secure meaningful outcomes at the Conference. It is paramount for members, both big and small, to work closely to strengthen the rules-based multilateral trading system.” Singapore’s priorities at MC13 About Singapore’s key priorities at MC13, the official said progress on WTO reforms, including consensus on an effective dispute setlement system, is the first one.
Extension of the moratorium on customs duties on electronic transmissions is the next. Meaningful measures to address the pressing food security challenges as well as those relating to sustainability and the environment are the third priority, Lim explained.
“We are hopeful that a realistic and balanced package can be achieved at MC13.” Digital trade As one of the co-convenors of the Joint Statement Initiative on E-commerce, Singapore welcomes the substantial conclusion of negotiations on a set of digital trade rules in December 2023 and look forward to the conclusion of negotiations this year, the official explained.
A successful outcome on the extension of the moratorium on customs duties on electronic transmissions is also critical to further promote digital trade, she stressed.
Aside from digital trade issues, Lim suggested, the WTO must, in the longer run, remain relevant by addressing contemporary challenges such as food security, supply chain resilience, and climate change. In this regard, Members should exercise “flexible multilateralism” and explore creative modalities, such as through plurilaterals like the Joint Statement Initiatives (JSIS), she added.
“We must also look beyond MC13 to chart a forward-looking agenda for the WTO, to ensure it remains relevant and well-equipped to deal with evolving challenges of the global landscape.” For example, the WTO is well positioned to address important environmental issues through the Commitee on Trade and Environment (CTE) as well as Member-driven initiatives such as the Trade and Environmental Sustainability Structured Discussions (TESSD) and the Informal Dialogue on Plastics Pollution and Environmentally Sustainable Plastics Trade (DDP), given the growing nexus between trade and the environment, Lim explained.
Singapore-uae trade ties Singapore has consistently had strong trade and investments with the UAE, she said.
Both countries have been free trade agreement partners since 2013, as part of the Gulf Cooperation Council-singapore Free Trade Agreement (GSFTA). Bilateral cooperation spans across areas such as food security, digital and green, which are also key contemporary issues in the global economy today, Lim noted.