WTO Reform were discussed at Davos Forum

On January 23, 2020, in Davos, Trade Ministers of key World Trade Organization (WTO) members supported the launch of negotiations on new global rules for investment facilitation. This initiative is supported by around a hundred members of the Organization and it is expected that consideration of the text of the new agreement will be one of the key issues on the agenda of the 12th WTO Ministerial Conference in Nur Sultan.

Ambassador Aitzhanova, Permanent Representative of Kazakhstan to the UN Office and other international organizations in Geneva, expressed her support for the common position and noted that creating a global regulatory environment conducive to investment would be an important decision that should help overcome current challenges in world markets and restore investor and business confidence. As the host of the 12th Ministerial Conference, Kazakhstan welcomes the discussion of new global rules at the multilateral level.

On January 24, at a special meeting WTO member countries noted the progress in discussions in the global rules governing electronic commerce, as well as the possibility extracting benefits from this area in the interests of all member countries. Currently 82 WTO members are participating in the negotiations.

The Republic of Kazakhstan, who is also participating in the negotiations, urged WTO member countries to consider the possibility of using a flexible mechanism, which will provide for a staged implementation by countries of the various provisions of the agreement in accordance with the level of economic development, as well as the availability of institutional and human capacity.

In this context, the dynamically growing role of electronic commerce in the global economy and international trade should be noted. Thus, according to Alibaba, this year cross-border trade through electronic commerce will reach 7 trillion USD.

On the same day, an informal meeting was held with the participation of trade ministers of key WTO member countries, at which the ideas of reforming the WTO and advancing the negotiation agenda of the Organization were discussed in preparation for the 12th WTO Ministerial Conference.

At the meeting, Permanent Representative Aitzhanova noted the emerging consensus among WTO members on the need for systemic reforms in the Organization. She also suggested that the meeting participants begin work on a roadmap that will contain the main approaches to the reforms of the WTO disputes settlement body, negotiating and monitoring functions.

In addition, the representative of Kazakhstan expressed hope for the successful completion of negotiations on the fisheries subsidies and a plurilateral agreement on the domestic regulation of trade in services by the WTO Ministerial Conference.

It is expected that e-commerce, investment facilitation and WTO reform will be the most discussed in the framework of the preparatory process for the 12th WTO Ministerial Conference, scheduled for June 8-11. in Nur Sultan.