Ahead of the 11th Ministerial Conference of the World Trade Organisation (WTO) on 10-14 December in Buenos Aires, Argentina, the Council of Presidents of BusinessEurope adopted a Statement that reiterates the importance of the WTO as the guardian of multilateral trade.

The role of the WTO in fighting protectionism and ensuring a level playing field has been essential for the development of free and fair trade around the globe. Alarmed by recent developments that pose obstacles to move negotiations forward and harm the ability of the WTO to effectively implement the rules through its dispute settlement system, European businesses urge WTO members to build on the progress achieved in the previous WTO Ministerial Conferences in Bali (2013) and Nairobi (2015).

For BusinessEurope the solution is twofold: WTO members need to consider the negotiation of new rules, adapted to today’s trading reality. But they should also take all the necessary measures to safeguard the institutional capacity of the WTO. This requires the goodwill and active engagement of all WTO members. The business community stands ready to support bridging existing differences.

Ahead of the 11th Ministerial Conference of the World Trade Organisation (WTO) on 10-14 December in Buenos Aires, Argentina, the Council of Presidents of BusinessEurope adopted a Statement that reiterates the importance of the WTO as the guardian of multilateral trade.

The role of the WTO in fighting protectionism and ensuring a level playing field has been essential for the development of free and fair trade around the globe. Alarmed by recent developments that pose obstacles to move negotiations forward and harm the ability of the WTO to effectively implement the rules through its dispute settlement system, European businesses urge WTO members to build on the progress achieved in the previous WTO Ministerial Conferences in Bali (2013) and Nairobi (2015).

For BusinessEurope the solution is twofold: WTO members need to consider the negotiation of new rules, adapted to today’s trading reality. But they should also take all the necessary measures to safeguard the institutional capacity of the WTO. This requires the goodwill and active engagement of all WTO members. The business community stands ready to support bridging existing differences.

In a video statement, BusinessEurope President Emma Marcegaglia said: “We count on the meeting in Buenos Aires to have an outcome where the WTO will be even stronger than it is now and where it will continue to be a key pillar for free and fair trade”.

To read the statement click here

To see the video – click here

Source: BusinessEurope

Image: Fotosearch