Dr. Mohamed Farid stated that:
- Egypt fully supports the Kingdom of Saudi Arabia’s hosting of the upcoming 15th WTO Ministerial Conference.
- We endorse WTO reform through key pillars, particularly focusing on development and equitable opportunities for all member states.
- Egypt supports Palestine’s right to obtain observer status within WTO.
- It is essential to introduce Arabic as one of the WTO’s official languages to deepen the integration of Arab countries into the international trade system.
- Reforming the multilateral trading system and enhancing its developmental dimension are priorities for the success of the WTO Ministerial Conference.
- Restoring the effectiveness of the WTO dispute settlement system.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), participated virtually in today’s coordinating meeting of Arab trade ministers, held in preparation for the 14th Ministerial Conference of the World Trade Organization (WTO), scheduled to take place in Yaoundé, Cameroon, in less than two weeks.
The Minister highlighted the importance of this coordinating meeting, emphasizing that it comes at a crucial time to strengthen Arab coordination ahead of the upcoming ministerial conference, contributing to the unification of Arab positions and the promotion of joint action within the multilateral trade framework.
Dr. Farid stressed the need to restore the efficacy of the multilateral trading system and enhance WTO’s capacity to support the economic development of developing nations, underscoring the importance of collective efforts to reform the organization in order to tackle increasing global economic and trade challenges.
He further explained that the multilateral trading system is currently facing increasing challenges, amid growing fragmentation, rising protectionist disputes, and unilateral measures, including exceptional trade-related actions, highlighting the urgent need to restore confidence in the rules-based global trading system.
Moreover, MIFT Minister emphasized that Egypt supports efforts to reform WTO through several key pillars, foremost among them placing development at the heart of the reform process and implementing it in a comprehensive and transparent manner, alongside strengthening the developmental dimension of the international trade system to ensure equitable opportunities for all countries.
He also stressed the importance of upholding the fundamental principles of the multilateral trading system, including non-discrimination, transparency, predictability, and special and preferential treatment for developing countries, including the least developed nations.
Dr. Farid highlighted the importance of restoring the effectiveness of WTO’s two-tier dispute settlement system and reaching a resolution on this issue by the 15th Ministerial Conference, which would help restore the organization’s credibility and reinforce its role in managing the global trading system.
The Minister also expressed the importance of achieving tangible progress on several key items on the agenda of the 14th Ministerial Conference, particularly in the fields of agriculture and food security, supporting fisheries, and completing the e-commerce program, all of which contribute to enhancing the benefits for developing countries from the global trading system.
He reaffirmed Egypt’s full support for the Kingdom of Saudi Arabia in hosting the 15th WTO Ministerial Conference. He also reiterated Egypt’s steadfast position in supporting Palestine’s right to obtain observer status within WTO, alongside backing the Arab League’s request for observer status in ministerial conferences, the General Council, and all WTO bodies.
Dr. Farid underscored the importance of expediting the membership of additional Arab states in the WTO, while emphasizing that the inclusion of Arabic as an official language would strengthen Arab integration into the global multilateral trading system.
MIFT Minister expressed his sincere appreciation to Dr. Majid bin Abdullah Al-Kassabi, Minister of Commerce in the Kingdom of Saudi Arabia, for kindly hosting the coordinating meeting and for the Kingdom’s efforts in supporting Arab coordination and enhancing economic and trade cooperation among Arab countries.
In conclusion, Dr. Farid emphasized that strengthening the developmental dimension of the international trade system and restoring WTO’s credibility are two crucial elements for the success of the 14th Ministerial Conference and any future ministerial meetings of the organization.
