BUSINESS

WTO’s 12th ministerial conference to take place on June 12-15 in Geneva

The 12th ministerial conference of the World Trade Organisation will take place from June 12-15 in Geneva. The Ministerial Conference (MC) is the highest decision making body of the 164-member Geneva-based multilateral body.

The meet was originally scheduled to take place from November 30 to December 3 last year but was postponed in view of the outbreak of Omicron variant, which led to the imposition of travel restrictions and quarantine requirements in Switzerland and many other European countries.

“In a communication forwarded to WTO members on April 25, WTO Director-General Ngozi Okonjo-Iweala, Chair of the 12th MC Mr Timur Suleimenov of Kazakhstan and General Council Chair Ambassador Didier Chambovey of Switzerland informed delegations that the WTO’s 12th MC will take place on June 12-15, 2022 at WTO headquarters in Geneva,” WTO said in a statement.

The conference will be attended by trade ministers and other senior officials from the member nations.

This edition of the Ministerial conference is very much important for Bangladesh as the country is in the process for graduating from the LDCs.

Commerce Ministry WTO Cell Director General Md Hafizur Rahman said that Bangladesh had taken all necessary preparations when the conference was scheduled to take place in last December. “We’ve also taken necessary preparations for the upcoming conference,”

He informed that centering the MC12, Bangladesh is putting utmost priority in continuing subsidy in the fisheries sector alongside graduating from the LDCs. “Efforts will be there so that the preferential trade benefits that we’re now receiving can continue beyond the LDC graduation period,”

The WTO Cell director general apprehended that the ongoing Russia-Ukraine war might put an impact on the conference for which Bangladesh is putting higher importance to this event, which is also regarded as the highest policy-level forum of the WTO.

Hafizur informed that the general council meeting of the WTO would be held on May 10 while following the outcomes of the meeting, the government would take some more preparations.

He said that on behalf of the LDC group, Bangladesh would submit a proposal for bringing reforms to the WTO.

A Bangladesh delegation, headed by Commerce Minister Tipu Munshi, will attend the 12th WTO Ministerial Conference.

Out of the 164 member countries, Bangladesh is the most influential member of the LDC Group.

MC12 was due to take place from November 30 to December 3, 2021 but was postponed due to the outbreak of the Omicron variant of COVID-19, which led to the imposition of travel restrictions and quarantine requirements in Switzerland and in many other European countries.

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