(VOV) - A Vietnamese delegation led by Trade Minister Vu Huy Hoang has joined the 8th World Trade Organization (WTO) Ministerial Conference which opened in Geneva on December 15.
The focus of the conference was on measures to promote multilateral trade in the current global economic and political situation.
In the plenary session, delegates heard ministerial speeches from 153 WTO member economies. Three working sessions were conducted parallel to the plenary session with the following themes: “Importance of the Multilateral Trading Systems and the WTO”, “Trade and Development” and “Doha Development Agenda”.
WTO Director General Pascal Lamy said the conference provided a good opportunity for charting a course of action for the organization in the next two years which will bring stronger cooperation in global trade reforms and anti-protectionism to help WTO members reclaim their growth and create more jobs.
Unlike previous meetings, this conference took place in the context of growing unemployment rates, uncontrolled food security, the deadlocked Doha Round of trade negotiations, and sluggish growth that could lead to economic crises in areas around the world. In addition, rising debt levels and major financial fluctuations have adversely affected business and consumer confidence.
The conference also gained the accessions of Russia, Samoa and Montenegro.
In the final session on 17 December, Ministers adopted a number of decisions on intellectual property, electronic commerce, small economies, accession of the least developed countries, a services waiver for those countries, and trade policy reviews.
Ministers also discussed the Agreement on Government Procurement (GPA) - a measure to pump US$80-100 billion into global trade annually.