Currency converter
^
News Feed
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Russia’s Economic Development Minister says WTO is in a critical situation

December 16, 2015, 15:48 UTC+3 NAIROBI
The minister reiterated Russia's determination to support the multilateral trading system and in particular the achievement of real results in Nairobi
1 pages in this article
© EPA/PHOTO KEYSTONE/Laurent Gillieron

NAIROBI, December 16. /TASS/. The World Trade Organization (WTO) is in a critical situation and should switch from negotiations to real results and in this case it will "rise from the ashes like a phoenix," Russia’s Economic Development Minister Alexey Ulyukayev said in his speech at the plenary session of the 10th Ministerial Conference of WTO members.

"We are now in a critical situation. For two decades the WTO served as a unique forum for multilateral negotiations. However, negotiations with no real result are untenable. The letter "T" in the WTO means" trade" and not only "talks". The system must perform its functions," he said.

Ulyukayev said that WTO members need to redouble their efforts.

"I prefer to see the real results of the WTO myself, rather than leaving it to our children's grandchildren," he said.

The minister reiterated that there is no common position on the future of the organization."Some people think that we have to recognize that the Doha Round has exhausted itself, and give rise to a new process. Others call for the full execution of the Doha mandate. Positions are not only diverge, they are often completely opposite," Ulyukayev said.

He stressed that "it is also difficult to understand the reasoning of some WTO members who do not want to support consensus on the vital issues they have no substantial objections to". "The only reason for reluctance is a link "with the related issues," he noted.

"Regardless of developments in the course of the conference, we should leave Nairobi with a clear plan for the future of the WTO, which should include all the new challenges in the world trade and should not waste energy on issues that are no longer relevant," Ulyukayev added.

The minister reiterated Russia's determination to support the multilateral trading system and in particular the achievement of real results in Nairobi.

"We need to work really hard to be on time. We hope that the WTO as a mechanism for resolving trade disputes will arise from the ashes like a phoenix," he concluded.

Show more
In other media
Реклама
Реклама