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Today’s Top Headlines




Germany Supports LDCs To Partake In Trade Talks

by Jason Gorringe, Tax-News.com, London

13 June 2016

Germany's Federal Ministry for Economic Cooperation and Development has pledged EUR1m (USD1.25m) to help developing countries and least-developed countries (LDCs) participate more effectively in global free trade negotiations.

The donation has been made to the World Trade Organization's (WTO's) Doha Development Agenda Global Trust Fund and will finance training workshops for officials in Geneva and elsewhere, with a view to helping them better understand and implement WTO trade agreements.

Welcoming the new donation from Germany, WTO Deputy Director-General Yonov Frederick Agah said: "I welcome Germany's generosity in helping to enhance the participation of developing countries and LDCs in WTO training and capacity building activities, thereby ensuring that they can fully benefit from the multilateral trading system. Germany's donation will significantly contribute to laying the ground for new business opportunities for farmers, manufacturers and service providers around the world."

According to Germany's Ambassador to the WTO, Walter Werner, about 15,000 officials from over 130 WTO members and observers participated in WTO training activities in 2015 with over half coming from LDCs.

"Enhancing the awareness of WTO agreements in developing and least-developed countries (LDCs) is crucial as a means of helping these countries take full advantage of the rules-based multilateral trading system," Werner said.

The WTO revealed that Germany is the fourth donor to the fund this year, following contributions form Estonia, Austria, and Liechtenstein.

It added that Germany has donated more than EUR23m to WTO trust funds in over the last 15 years.

TAGS: business | export duty | training | Estonia | Liechtenstein | agreements | Austria | Germany | import duty | trade

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