WTO Conference Held in Nairobi Termed a Success

The World Trade Organization (WTO) Ministerial Conference that was held in Nairobi last year December has been described to have borne fruits in a way that surpassed expectations.

This is according to WTO’s Director General Roberto Azevedo, who was speaking at the University of West Indies in Jamaica. He said that the WTO Conference was one that stood out from all the other conferences that have ever been held in the past 20 years.

Among the many things that made the conference successful, were the changes which were brought about as a way of improving the state of the global trade policy which had not been reviewed for many years.

Azevedo urged governments from different countries in the world to follow up on the developments of the negotiations that were passed during the conference, adding that by doing so, they will be encouraging growth of economies through trade and business.

The Conference majorly dealt with matters that concern the field of agriculture, whereby countries were relieved from paying export subsidies as it was eliminated. This decision came about to encourage increased global competition on exports.

The Director General stated that elimination of the export subsidies was meant to improve the global trading environment especially in developing countries, who were straining so much to cater for the subsidies. This will therefore pave way for growth in the trade sector which will in turn lead to growth of the economies of the developing countries.

He added that farmers and exporters from developing and least developed countries will be key beneficiaries of this move, as it affects them directly. He urged such countries to embrace trade and businesses since they are key tools to growth.

Mr. Azevedo stated that whenever a country concentrates on trade, it will automatically attract investors from within and even from outsides, therefore boosting the economy of that country.

The conference was said to have led to finding a permanent solution on the food security sector, as a special safeguarding mechanism was brought forward.

The many issues that were discussed during the WTO conference will lead to creation of more job opportunities, especially for young people from different parts of the world.

Article by Vera Shawiza.