Exits Pope, enters the 10th World Trade Organisation (WTO) Ministerial Conference (MC10). The first of its kind to be held in Africa. WTO is the sole global international organization that deals with the rules of trade between nations. It’s main objective is to help producers of goods and services, exporters, and importers conduct their business of trade in global markets fairly.
Highly publicized but least understood, Ministerial Conference is where the business of WTO is conducted. Ministerial Conference is the highest decision making body of WTO. The last Ministerial Conference was held in Bali, Indonesia in 2013 where the ministers in attendance adopted the “Bali package” which is a series of decisions aimed at not only streamlining trade but also allowing developed countries more options for providing food security, boosting least-developed countries’ trade and fostering general development of member states.
Africa’s hope will lie in the successful conclusion of the Doha Round, the so called Doha Development Agenda (DDA), if only the round will deliver credible development outcomes.
Why DDA? First, because it is in Doha where trade negotiations aimed at lowering trade barriers began. The intention was to reduce trade barriers around the world and thus facilitate increased global trade. Due to capacity constraints experienced in both developing and LDC’s, the initial objective of DDA has not been achieved. These countries suffer supply side constraints that can be addressed through negotiated Special and Differential Treatment (S&DT) mechanisms.
Source;Ministry of Industrialization Kenya
READ MORE: JUST HOW IMPORTANT IS THE WTO MINISTERIAL CONFERENCE TO AN ORDINARY PERSON?
