05 Dec 2013

Minister of Trade and Industry Ms Dorcas Makgato-Malesu says the need to address the imbalance in the Multilateral Trading System remained urgent. 


She was speaking at the ninth session of the World Trade Organisation (WTO) held in Indonesia in an endeavor to advance the WTO work program.
 She said this was more so that economies continued to struggle to recover from the aftermath of the global economic and financial crisis. 


The minister also said small and vulnerable economies, face persistent challenges of high levels of unemployment, high inflation, and worsening debt situation amongst others. 


“We have, for over a decade, looked forward to a Multilateral Trading System that could support our efforts in addressing these challenges. The relevance of the WTO in dealing with these global challenges cannot be overemphasized, and as such, our continued engagement and dedication to finding a solution to the current impasse remains strong,” she said.

Minister Makgato-Malesu further said collective efforts, political leadership and consideration of one another’s critical needs and concerns remained key ingredients for the success of future endeavors. 


The minister also noted that Aid-for-Trade remained critical in supporting developing countries in addressing the supply-side constraints and trade-related infrastructure deficiencies. 
 She said as they engaged to draw the Post-2015 Development Agenda, the role of trade in contributing to sustainable development should be prominent and therefore called on the WTO to play a proactive role in the formulation of the Agenda. ENDS