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Monday, 05 September 2011

The EU offers EUR 180,000 to WTO development fund

The EU announced a EUR180,000 donation to the WTO Trade Facilitation Trust Fund (Window I) for 2011. Overall, the EU’s contribution to the various WTO development trust funds has reached CHF10.9 million.

This donation will finance technical assistance programmes to assist least developed and low income countries to participate more effectively in the WTO trade facilitation negotiations in the Doha Round. Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce costs and burdens. It also allows trade flows to be as efficient as possible.

WTO Director General Pascal Lamy declared “I welcome the EU's contribution which demonstrates its commitment to help developing countries integrate in the global economy and take better advantage of the multilateral trading system.”

EU's WTO Ambassador Angelos Pangratis stated “Trade Facilitation is crucial for developing countries to continue to fully participate in the multilateral trading system. This new contribution is only part of the EU's strong commitment to assist developing countries in improving their trading capacity and in making trade an engine for sustainable growth, development and poverty reduction.”

Source: WTO