Minister Badu stresses benefits of WTO to LDCs

By A Staff Reporter Kathmandu, June 15: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that support measures in strengthening productive capacities, bridging the digital divide, and capacity building in e-commerce should remain in priority focus.

 Addressing the formal opening session of the twelfth Ministerial Conference of the World Trade Organisation (WTO) in Geneva on Sunday he highlighted the current trend of global trading system and serious constraints of LDCs and LLDCs in realising benefits from it.

He stressed on necessity of making the WTO fit for purpose. 

Existing gaps in the WTO laws and its functioning, especially in some WTO agreements and accession process, should also be addressed with a view to balancing the rights and obligations of the member states in an equitable manner, he said.

Minister Badu urged the entire membership the necessity of continuation of existing facilities and flexibility to graduating LDCs in order to ensure smooth and irreversible graduation.

According to a press statement issued by Permanent Mission of Nepal, Geneva, Minister Badu urged all member states for a strong commitment to uphold the principles of rules-based, fair, transparent, and predictable multilateral trading system, and share the prosperity from the system equitably. 

Minister Badu also attended the LDC Ministerial meeting and delivered a statement. 

In the statement, he mainly highlighted the current context of devastating impacts of the COVID-19 pandemic and food crisis in the LDCs. 

He urged for global support especially in strengthening LDCs’ health system, building productive capacity and enhancing export competitiveness for speedy recovery and building forward better from the pandemic in LDCs. 

He stated that the LDCs have been experiencing multiple challenges from the multilateral trading system. 

He further stressed on the need for bridging digital divide in LDCs to participate in and benefit from e-commerce and digital economy in the changing global scenario.