Wednesday, May 22, 2024
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HomeBusinessEconomyMinister Ng participates in virtual meeting of World Trade Organization ministers

Minister Ng participates in virtual meeting of World Trade Organization ministers

By Caribbean News Global fav

OTTAWA, Canada – Canada’s minister of small business, export promotion and international trade, Mary Ng, participated virtually in a meeting of World Trade Organization (WTO) ministers hosted by Australia to discuss ways to strengthen rules-based international trade.

This meeting builds on minister Ng’s participation Monday in a virtual round table on the WTO E-commerce Joint Statement Initiative, co-hosted by Canada’s WTO Business Advisory Council co-chairs: the Business Council of Canada and Element AI.

“Before the COVID-19 pandemic, nearly two-thirds of Canada’s economy and millions of Canadian jobs depended on international trade and investment. Rules-based international trade, underpinned by multilateral institutions such as the WTO, is essential to economic recovery from COVID-19 and future prosperity for Canadians,” global affairs said in a release. “Canada is working with its international partners to pave the way for an inclusive, sustainable, and resilient global recovery for Canadians and people around the world. Environmental sustainability is key to this recovery, which is why minister Ng and her ministerial counterparts discussed the path forward on the negotiations to prohibit harmful fisheries subsidies and the need to work expeditiously to reach an agreement.”

Input and insights from businesses, including small businesses and under-represented entrepreneurs, remain invaluable as WTO members work on establishing rules for digital trade that will open up new opportunities for Canadians. Canada will continue its leadership in delivering on the June 2020 Ottawa Group Action Plan commitment to be transparent and work collaboratively with businesses.

As chair of the Ottawa Group on WTO reform, Canada is leading efforts to modernize the WTO. Minister Ng highlighted the important work being done by the Ottawa Group, including addressing transparency, keeping agri-food markets open and predictable, intensifying work on e-commerce, and exploring options for an initiative on trade and health.

Minister Ng, said: “Canadians benefits from an open, transparent, and rules-based international trade system with the WTO at its core. Stable and predictable global trade rules help open up new export markets for Canadians abroad and create new opportunities at home. Canada will continue to lead on the world stage so that our businesses, workers, and all Canadians benefit from trade and a sustainable recovery from the COVID-19 pandemic.”

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