Dubai PR Network, Online Press Release from Dubai and Middle East
 
Government Sector(Government, Legal & Humanity)
Filter PR by
  
Statement in response to media feedback on classification of the UAE among the developed countries in the WTO
 
Abu Dhabi, July 30, 2019
 
The United States submitted a communication to the World Trade Organization (WTO) under document WT/GC/W/757 “An undifferentiated WTO: self-declared development status risks institutional irrelevance.” This paper says countries at the WTO should not be allowed to self-declare themselves as “developing countries.” US also notes that developed countries have been severely disadvantaged in the WTO system due to Special and Differential Treatment (S&D) flexibilities that all developing countries enjoy.
 
Under the existing WTO conventions, S&D gives developing countries unilateral flexibility in implementing obligations and enjoins developed countries to treat them favorably. S&Ds are categorized into four: 
  1. Longer time periods for implementation of agreements and commitments
  2. Measures to increase trading opportunities for developing countries 
  3. Provisions requiring all WTO members to safeguard the trade interests of developing countries
  4. Support to help developing countries build the capacity to carry out WTO work, handle disputes and implement technical standards. 
According to the US proposal, the WTO’s inability to clearly distinguish developing and non-developing countries among member states causes negotiations to fail. The continued lack of institutional work also puts the WTO on a difficult position before negotiating in disciplines to meet the challenges of today or tomorrow.
 
The US presented the criteria designed to identify developing countries eligible for S&D rather than the countries making the self-delegation themselves. As per the proposal, the UAE is outside the list of countries eligible for S&D. 
 
The Ministry of Economy reiterated that any proposal submitted by any member state should be approved by all WTO members first as required by the set rules. The UAE, assured the Ministry, will cooperate with the organization’s decision and will support any approach agreed on by the developing countries. The Ministry maintained that this latest development, if approved, shall not affect the UAE’s current obligations and interests in the WTO due to the following reasons:
  • The UAE has been timely completing its trade obligations since 1996, in view of the fact that it believes in the trade liberalization principle. On the other hand, the WTO early accession has helped disallow high ceilings that are difficult to apply and implement.
  • The UAE is a pivotal trade hub in the region and the world. Therefore, the country does not need the flexibility given to developing countries in relation to increasing trade opportunities. The Arab state has long positioned itself on the global trade map thanks to its free trade policy. 
  • The country has vibrant trade activities in the region with many international businesses showing great interest in the UAE because of its advanced infrastructure and given the fact that it serves as gateway to other markets in the Middle East and Africa. Therefore, on taking into account the commercial interests of developing countries, the UAE will not be significantly affected by virtue of its status as the region’s vital trade center. 
  • The country can benefit from technical support programs across all fields through self-financing. Providing technical support to WTO members is important but funding these programs will not pose any problem to the state.


Posted by : Dubai PR Network Editorial Team
Viewed 4734 times
PR Category : Government, Legal & Humanity
Posted on : Tuesday, July 30, 2019  9:36:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Dubai Customs announces achievements in 2Q 2019
Next Story : More than 90,000 beneficiaries of Sheikh Mohammed bin Rashid...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Chloé's Iconic “Carlina” Sunglasses In a Precious New Interpretation [8369-Views]
Holiday Hair-Styling Essentials from VIERRO [5362-Views]
Luxe Beauty Gifts for your Loved Ones this Festive Season [5045-Views]
'Tis the Season to Be Glamorous - Beauty Essentials from GlamBeaute.com! [4697-Views]
Arabic version of Zoho Creator launched to help businesses create custom applications [4575-Views]
Homegrown Jewellery Brand Sumaya Bakkar Collections Curated Festive Gift List [4520-Views]
Your Holiday Gift Guide for Her [4386-Views]
Union Coop Pays Tribute to the Martyrs on Commemoration Day' [4313-Views]
Berkan Steakhouse Launches in Dubai [4282-Views]
ENEC Releases 'Tasamoh' a Rehabilitated Green Turtle and organizes Beach Cleanup at Barak... [4002-Views]
China Homelife the Largest China Sourcing Platform Set to Showcase a Wide Variety of Produ... [3727-Views]
Dubai Cares' Volunteers bring hope to children in remote village in Senegal [3587-Views]
New year, New You with Lunette [3416-Views]
Dubai Festival City Mall Visitors In for A Jolly Festive Season Like No Other in Dubai [3392-Views]
Uncovering the Beauty of Mechanics' [3318-Views]
Cole Haan Makes Its Debut at Sole Dxb 2019 Showcasing Footwear Collaborations [3312-Views]
Customs World inks MoU with Indonesia to roll out World Logistics Passport [3276-Views]
Emotional and highly dynamic: the design of the MINI John Cooper Works GP. [3251-Views]
The Middle East Organic Market's Premiere Business Event Opens In Dubai [3123-Views]
Statement Cardigans [2989-Views]
GROHE received the “Red Dot: Brand of the Year” [2983-Views]
Free gold coins at Malabar Gold & Diamonds Festival. [2910-Views]
Set Up Stylish Outdoor Spaces with 2XL Furniture & Home Décor [2861-Views]
Best Menswear Items [2849-Views]
NYU Abu Dhabi Class of 2017 graduate Alioune Fall named as 2021 Schwarzman Scholar [2806-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories