The World Trade Organization (WTO) has disclosed that the United States will provide a financial contribution of USD 600,000 (approximately CHF 535,000) in 2023 to the WTO's Global Trust Fund. This fund is designated to support training programs aimed at government officials from developing economies and least-developed countries (LDCs), according to a press release by WTO.
The contribution to the Global Trust Fund will aid developing economies and least-developed countries (LDCs) in expanding their knowledge of WTO affairs and improving their capacity to negotiate trade regulations within the WTO. In total, the United States has provided around CHF 29 million (USD 32 million) to the Global Trust Fund and the Standards and Trade Development Facility since 2002, said WTO.
“The United States has long supported the WTO Secretariat's work to build the capacity of government officials from developing economies to participate effectively in the multilateral trading system and help convert international trade opportunities into improved lives and livelihoods for people in their home countries. We are grateful for this new contribution to the Global Trust Fund, which is vital to maintain our technical assistance efforts,” said Director-General Ngozi Okonjo-Iweala, as stated by WTO.
WTO serves as the sole global international organization dedicated to regulating trade rules among nations. Its core comprises agreements negotiated and endorsed by a majority of the world's trading nations and subsequently ratified in their respective parliaments. The overarching objective is facilitating trade smoothly, predictably, unrestrictedly, stated on the WTO website.
“We seek to promote a culture at the WTO where members are motivated to share success stories and challenges and where our partnerships and dialogues here help open door more effective development assistance cooperation at national level,” said United States Ambassador to the WTO María Pagán.